Connor Clark & Lunn Investment Management Ltd. cut its position in shares of ACCO Brands Co. (NYSE:ACCO) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,392 shares of the industrial products company’s stock after selling 48,325 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of ACCO Brands worth $1,121,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in ACCO Brands by 45.8% in the fourth quarter. Royce & Associates LP now owns 4,635 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 1,457 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in ACCO Brands by 23.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 13,338 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 2,507 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in ACCO Brands by 17.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 2,032 shares in the last quarter. Bessemer Group Inc. bought a new stake in ACCO Brands in the third quarter worth $119,000. Finally, Verition Fund Management LLC bought a new stake in ACCO Brands in the third quarter worth $152,000. Institutional investors own 90.81% of the company’s stock.
ACCO stock opened at $8.90 on Friday. ACCO Brands Co. has a 1-year low of $6.07 and a 1-year high of $14.63. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.47 and a quick ratio of 0.90. The firm has a market capitalization of $904.11 million, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.79 and a beta of 1.84.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Wednesday, February 13th. The industrial products company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). ACCO Brands had a return on equity of 16.00% and a net margin of 5.50%. The business had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $553.42 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts anticipate that ACCO Brands Co. will post 1.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Friday, March 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, March 14th. ACCO Brands’s dividend payout ratio is currently 21.05%.
ACCO has been the topic of several analyst reports. Zacks Investment Research raised ACCO Brands from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. Barrington Research reissued a “buy” rating and issued a $13.00 target price on shares of ACCO Brands in a report on Tuesday, February 12th. Finally, ValuEngine raised ACCO Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.75.
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About ACCO Brands
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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