Easterly Investment Partners LLC Lowers Position in ABM Industries Incorporated (NYSE:ABM)

Easterly Investment Partners LLC lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 45.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,282 shares of the business services provider’s stock after selling 108,858 shares during the period. Easterly Investment Partners LLC owned 0.21% of ABM Industries worth $6,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ABM. SBI Securities Co. Ltd. bought a new position in ABM Industries during the fourth quarter valued at $33,000. Adirondack Trust Co. lifted its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in ABM Industries by 193.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after buying an additional 595 shares during the period. Quarry LP increased its position 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 acquiring an additional 721 shares during the period. Finally, KBC Group NV raised its stake in shares of ABM Industries by 60.9% during 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 in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price target 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.

Insiders Place Their Bets

In related news, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $47.62 on Thursday. The firm has a 50 day moving average of $51.73 and a 200 day moving average of $52.85. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 52 week low of $42.63 and a 52 week high of $59.78.

ABM Industries Announces Dividend

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 given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is currently 84.13%.

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.