ABM Industries Incorporated (NYSE:ABM) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,135 shares of the business services provider’s stock after selling 2,092 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in ABM Industries were worth $6,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Natixis Advisors LLC purchased a new position in ABM Industries in the 3rd quarter valued at about $543,000. Intech Investment Management LLC boosted its position in ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 14,977 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ABM Industries by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider’s stock worth $35,930,000 after acquiring an additional 12,179 shares during the period. Citigroup Inc. lifted its stake in shares of ABM Industries by 51.3% during the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after purchasing an additional 34,254 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of ABM Industries during the third quarter worth $1,936,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE ABM opened at $47.57 on Tuesday. The business’s 50-day simple moving average is $51.94 and its 200-day simple moving average is $52.91. The firm has a market capitalization of $2.96 billion, a P/E ratio of 37.46, a P/E/G ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 1-year low of $42.63 and a 1-year high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.23%. ABM Industries’s payout ratio is 84.13%.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced 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.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the firm’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 directly owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at $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 owned by insiders.

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.