Ancora Advisors LLC reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 32.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 786,454 shares of the industrial products company’s stock after selling 374,591 shares during the period. Ancora Advisors LLC owned approximately 0.77% of ACCO Brands worth $8,887,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MetLife Investment Advisors LLC raised its holdings in ACCO Brands by 11.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 48,975 shares of the industrial products company’s stock valued at $678,000 after buying an additional 5,210 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in ACCO Brands by 27.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock valued at $346,000 after buying an additional 5,380 shares during the period. Chartwell Investment Partners LLC grew its position in ACCO Brands by 5.3% in the 3rd quarter. Chartwell Investment Partners LLC now owns 149,891 shares of the industrial products company’s stock valued at $1,694,000 after acquiring an additional 7,490 shares in the last quarter. Meeder Asset Management Inc. grew its position in ACCO Brands by 710.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 9,687 shares in the last quarter. Finally, Sun Life Financial INC acquired a new position in ACCO Brands in the 2nd quarter valued at about $140,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.
In related news, SVP Pamela R. Schneider acquired 3,100 shares of the stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $8.10 per share, with a total value of $25,110.00. Following the completion of the transaction, the senior vice president now owns 81,788 shares in the company, valued at approximately $662,482.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Boris Elisman acquired 6,547 shares of the stock in a transaction dated Wednesday, October 31st. The shares were bought at an average cost of $7.72 per share, with a total value of $50,542.84. Following the completion of the transaction, the chairman now owns 798,917 shares of the company’s stock, valued at approximately $6,167,639.24. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 19,647 shares of company stock valued at $156,253. Corporate insiders own 4.50% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Barrington Research set a $13.00 target price on ACCO Brands and gave the company a “buy” rating in a research report on Monday, November 5th. ValuEngine downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. TheStreet downgraded ACCO Brands from a “b-” rating to a “c+” rating in a research report on Friday, November 16th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $15.00 target price on shares of ACCO Brands in a research report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.25.
NYSE ACCO opened at $8.11 on Friday. The stock has a market capitalization of $808.56 million, a price-to-earnings ratio of 6.82, a PEG ratio of 0.67 and a beta of 1.65. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.03. ACCO Brands Co. has a 1-year low of $7.39 and a 1-year high of $14.63.
ACCO Brands (NYSE:ACCO) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $507.30 million during the quarter, compared to analyst estimates of $533.26 million. ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, sell-side analysts forecast that ACCO Brands Co. will post 1.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, November 29th. ACCO Brands’s dividend payout ratio is presently 20.17%.
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, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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