KLP Kapitalforvaltning AS Makes New $1.13 Million Investment in ABM Industries Incorporated (NYSE:ABM)

KLP Kapitalforvaltning AS purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 22,100 shares of the business services provider's stock, valued at approximately $1,131,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of ABM Industries during the fourth quarter worth approximately $33,000. Adirondack Trust Co. increased its position in ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after buying an additional 595 shares in the last quarter. Quarry LP lifted its holdings in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider's stock worth $115,000 after buying an additional 721 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after acquiring an additional 1,067 shares during the period. Institutional investors own 91.62% of the company's stock.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the company's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. This represents a 18.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the sale, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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ABM Industries Trading Up 1.1 %

Shares of NYSE:ABM traded up $0.53 during midday trading on Tuesday, hitting $47.89. 447,529 shares of the stock were exchanged, compared to its average volume of 486,729. The business's 50-day moving average price is $51.39 and its 200 day moving average price is $52.83. ABM Industries Incorporated has a 12 month low of $42.63 and a 12 month high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio is currently 84.13%.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their target price on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.