ABM Industries Incorporated (NYSE:ABM) Short Interest Up 22.9% in October

ABM Industries Incorporated (NYSE:ABM) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 1,340,000 shares, an increase of 22.9% from the September 30th total of 1,090,000 shares. Based on an average daily volume of 511,000 shares, the short-interest ratio is presently 2.6 days. Currently, 2.2% of the shares of the stock are sold short.

ABM Industries Trading Up 0.1 %

ABM stock traded up $0.04 during mid-day trading on Wednesday, hitting $53.69. 312,316 shares of the company were exchanged, compared to its average volume of 564,949. The business has a fifty day simple moving average of $53.04 and a 200-day simple moving average of $50.71. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.19 and a beta of 1.14. ABM Industries has a 12-month low of $38.48 and a 12-month high of $59.78. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the business posted $0.79 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that ABM Industries will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be issued a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.68%. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

Insider Activity at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On ABM Industries

Large investors have recently bought and sold shares of the stock. BOKF NA acquired a new stake in shares of ABM Industries in the 2nd quarter valued at about $30,000. Adirondack Trust Co. raised its position in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in ABM Industries during the 3rd quarter worth $37,000. Lazard Asset Management LLC grew its position in ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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.