Comerica Bank Sells 726 Shares of ABM Industries Incorporated (NYSE:ABM)

Comerica Bank cut its position in shares of ABM Industries Incorporated (NYSE:ABM) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 65,166 shares of the business services provider’s stock after selling 726 shares during the period. Comerica Bank’s holdings in ABM Industries were worth $3,335,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC bought a new stake in shares of ABM Industries in the fourth quarter valued at about $392,000. Olstein Capital Management L.P. raised its holdings in shares of ABM Industries by 3.6% in the 4th quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider’s stock valued at $10,022,000 after purchasing an additional 6,821 shares in the last quarter. KBC Group NV lifted its position in shares of ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after purchasing an additional 1,067 shares during the period. Sei Investments Co. boosted its stake in shares of ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider’s stock valued at $7,840,000 after purchasing an additional 116,827 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in ABM Industries by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider’s stock valued at $2,155,000 after buying an additional 7,904 shares during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Trading Up 0.0 %

Shares of NYSE:ABM opened at $49.81 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $3.10 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.75 and a beta of 0.78. The business’s 50-day moving average is $47.78 and its 200 day moving average is $51.78. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 3rd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

Insiders Place Their Bets

In other ABM Industries news, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the sale, the executive vice president now owns 47,425 shares of the company’s stock, valued at approximately $2,372,672.75. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their target price on ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th.

About ABM Industries

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.