Foundry Partners LLC bought a new position in shares of ACCO Brands Co. (NYSE:ACCO – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 165,900 shares of the industrial products company’s stock, valued at approximately $1,327,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of ACCO Brands during the fourth quarter worth approximately $38,397,000. North Star Investment Management Corp. increased its stake in shares of ACCO Brands by 1.4% during the fourth quarter. North Star Investment Management Corp. now owns 812,601 shares of the industrial products company’s stock worth $6,712,000 after purchasing an additional 11,073 shares during the period. Easterly Investment Partners LLC increased its stake in shares of ACCO Brands by 3.6% during the fourth quarter. Easterly Investment Partners LLC now owns 582,634 shares of the industrial products company’s stock worth $4,813,000 after purchasing an additional 19,980 shares during the period. Bank of America Corp DE increased its stake in shares of ACCO Brands by 15.5% during the fourth quarter. Bank of America Corp DE now owns 504,283 shares of the industrial products company’s stock worth $4,165,000 after purchasing an additional 67,742 shares during the period. Finally, Denali Advisors LLC increased its stake in shares of ACCO Brands by 4.0% during the fourth quarter. Denali Advisors LLC now owns 473,647 shares of the industrial products company’s stock worth $3,912,000 after purchasing an additional 18,341 shares during the period. Institutional investors own 85.00% of the company’s stock.
A number of equities analysts have recently weighed in on ACCO shares. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. TheStreet lowered ACCO Brands from a “b” rating to a “c+” rating in a research note on Wednesday, April 27th.
ACCO Brands stock opened at $6.77 on Friday. The stock’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $7.87. ACCO Brands Co. has a one year low of $6.41 and a one year high of $9.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.68 and a quick ratio of 0.85. The firm has a market cap of $656.62 million, a PE ratio of 5.50 and a beta of 1.90.
ACCO Brands (NYSE:ACCO – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. ACCO Brands had a return on equity of 16.57% and a net margin of 5.82%. The firm had revenue of $441.60 million for the quarter, compared to analyst estimates of $420.45 million. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts expect that ACCO Brands Co. will post 1.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Friday, May 27th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Thursday, May 26th. ACCO Brands’s dividend payout ratio is presently 24.39%.
ACCO Brands Profile (Get Rating)
ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.
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