James Investment Research Inc. lessened its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 10.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 126,225 shares of the industrial products company’s stock after selling 15,017 shares during the quarter. James Investment Research Inc. owned about 0.12% of ACCO Brands worth $1,081,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of ACCO Brands during the 3rd quarter worth approximately $170,000. Verition Fund Management LLC bought a new stake in shares of ACCO Brands during the 3rd quarter worth $152,000. MetLife Investment Advisors LLC lifted its holdings in shares of ACCO Brands by 51.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 74,369 shares of the industrial products company’s stock worth $840,000 after acquiring an additional 25,394 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of ACCO Brands by 39.0% during the 4th quarter. Rhumbline Advisers now owns 158,691 shares of the industrial products company’s stock worth $1,076,000 after acquiring an additional 44,556 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in ACCO Brands by 9.1% in the fourth quarter. Victory Capital Management Inc. now owns 102,902 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 8,591 shares during the last quarter.
A number of equities analysts have issued reports on ACCO shares. Noble Financial set a $14.00 price objective on shares of ACCO Brands and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 20th. Barrington Research reiterated a “buy” rating and issued a $13.00 target price on shares of ACCO Brands in a research note on Tuesday, February 12th. Finally, Zacks Investment Research raised shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.50.
Shares of ACCO Brands stock traded down $0.05 during trading on Wednesday, hitting $7.91. The stock had a trading volume of 405,150 shares, compared to its average volume of 546,352. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $807.52 million, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.68 and a beta of 1.82. ACCO Brands Co. has a 12 month low of $6.07 and a 12 month high of $14.63.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. ACCO Brands had a net margin of 4.96% and a return on equity of 15.99%. The firm had revenue of $393.90 million for the quarter, compared to the consensus estimate of $391.71 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that ACCO Brands Co. will post 1.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 24th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, May 23rd. ACCO Brands’s payout ratio is presently 21.05%.
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ACCO Brands Profile
ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.
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