ABS Light and Sensor

I'll be brief. The pass rear brake pad wore down some of the rotor on my 01 GT. The metal shavings seem to collect on the magnetic rod that was sticking out of the backing plate, behind the rotor and next to a gear-looking part. Is this my ABS Sensor? It would explain why the ABS light came on. I cleaned it but there might have been some metal i missed that has stuck to it. It will come on sometimes for 30 seconds or so.

Thanks
Dave