ABM Industries Incorporated (ABM) Becoming More Attractive for Investors


ABM Industries Incorporated’s filing revealed that its President and CEO SALMIRS SCOTT B unloaded Company’s shares for reported $0.68 million on Jun 02. In the deal valued at $45.44 per share,14,983 shares were sold. As a result of this transaction, SALMIRS SCOTT B now holds 350,391 shares worth roughly $ 15.68 million.

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Then, SALMIRS SCOTT B sold 100 shares, generating $4,512 in total proceeds. Upon selling the shares at $45.12, the President and CEO now owns 364,726 shares.

Before that, SALMIRS SCOTT B sold 4,334 shares. ABM Industries Incorporated shares valued at $195,423 were divested by the President and CEO at a price of $45.09 per share. As a result of the transaction, SALMIRS SCOTT B now holds 364,826 shares, worth roughly $16.33 million.

UBS initiated its ABM Industries Incorporated [ABM] rating to a Neutral in a research note published on Tuesday, June 01, 2023; the price target was $48. PT values the company’s stock at a premium of 6.77 to its Tuesday closing price.

Price Performance Review of ABM

On Tuesday, ABM Industries Incorporated [NYSE:ABM] saw its stock fall -2.31% to $44.75. On the same session, the stock had its day’s lowest price of $44.43, but rose to a high of $45.6075. Over the last five days, the stock has lost -1.63%. ABM Industries Incorporated shares have risen nearly 0.74% since the year began. Nevertheless, the stocks have fallen -0.82% over the past one year. While a 52-week high of $49.58 was reached on 02/27/23, a 52-week low of $37.68 was recorded on 06/23/23. SMA at 50 days reached $44.30, while 200 days put it at $44.81. A total of 0.58 million shares were traded, compared to the trading of 0.34 million shares in the previous session.

Levels Of Support And Resistance For ABM Stock

The 24-hour chart illustrates a support level at 44.25, which if violated will result in even more drops to 43.75. On the upside, there is a resistance level at 45.43. A further resistance level may holdings at 46.11. The Relative Strength Index (RSI) on the 14-day chart is 45.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.12%. Stochastics %K at 59.45% indicates the stock is a holding.

How much short interest is there in ABM Industries Incorporated?

A steep rise in short interest was recorded in ABM Industries Incorporated stocks on Aug 14, 2023, dropping by -0.12 million shares to a total of 0.84 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.97 million shares. There was a decline of -14.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.39.

ABM Industries Incorporated [ABM] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,844,656 shares, or roughly 14.88% of the outstanding ABM shares. In other words, the investor’s shares have fallen by -134,438 from its previous 13-F filing of 9979094.0. Additionally, The Vanguard Group, Inc. decreased -1.57% of its stake after which the total value it holdings stand at $367,661,278, while Dimensional Fund Advisors LP added 0.61% of its stake to hold $212.49 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -2,952,027 shares of ABM Industries Incorporated, while Macquarie Investment Management B sold 20,643 shares. At present, Victory Capital Management, Inc. is holding 1,426,379 shares valued at $66.01 million. Copeland Capital Management LLC owned 1,370,359 shares of the company at the time of its most recent 13F filing, worth $63.42 million.

According to FactSet, ABM Industries Incorporated’s share price will average $56.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.06 percent from its previous closing price of $45.81. Analysts expect ABM Industries Incorporated stock to reach the higher price of $65.00, while the lowest price estimate is $50.00. However, 8 analysts have rated ABM stock as an Overweight in their predictions for 2023.


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