ABM Industries Incorporated (NYSE:ABM) Short Interest Up 7.3% in April

ABM Industries Incorporated (NYSE:ABM) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,650,000 shares, an increase of 7.3% from the March 31st total of 2,470,000 shares. Based on an average daily volume of 597,800 shares, the days-to-cover ratio is presently 4.4 days. Currently, 4.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.20.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total transaction of $245,323.85. Following the sale, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at $896,543.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in shares of ABM Industries by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 18,833 shares of the business services provider’s stock valued at $754,000 after acquiring an additional 265 shares during the period. Inspire Investing LLC boosted its stake in shares of ABM Industries by 3.9% in the third quarter. Inspire Investing LLC now owns 7,692 shares of the business services provider’s stock worth $308,000 after buying an additional 286 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in ABM Industries by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,811 shares of the business services provider’s stock worth $313,000 after acquiring an additional 334 shares during the period. Daiwa Securities Group Inc. boosted its position in ABM Industries by 8.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,381 shares of the business services provider’s stock worth $241,000 after purchasing an additional 439 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after buying an additional 511 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Trading Up 2.5 %

ABM stock opened at $44.79 on Thursday. The firm’s 50-day moving average is $43.21 and its 200 day moving average is $42.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries has a 12 month low of $37.61 and a 12 month high of $53.05. The company has a market capitalization of $2.83 billion, a PE ratio of 11.45 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. ABM Industries’s revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that ABM Industries will post 3.37 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is currently 23.02%.

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.