Crestline Management LP Takes Position in ACCO Brands Co. (ACCO)

Crestline Management LP acquired a new stake in ACCO Brands Co. (NYSE:ACCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 328,945 shares of the industrial products company’s stock, valued at approximately $2,230,000. Crestline Management LP owned about 0.32% of ACCO Brands at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in ACCO Brands by 45.8% during the fourth quarter. Royce & Associates LP now owns 4,635 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,457 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in ACCO Brands by 17.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock worth $91,000 after buying an additional 2,032 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in ACCO Brands by 23.1% during 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 buying an additional 2,507 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in ACCO Brands by 13.7% during the fourth quarter. First Mercantile Trust Co. now owns 22,519 shares of the industrial products company’s stock worth $153,000 after buying an additional 2,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in ACCO Brands by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 75,832 shares of the industrial products company’s stock worth $514,000 after buying an additional 5,902 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ACCO 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 firm has a market cap of $904.11 million, a P/E ratio of 7.81, a PEG ratio of 0.79 and a beta of 1.84. The company has a current ratio of 1.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Wednesday, February 13th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $553.42 million. ACCO Brands had a return on equity of 16.00% and a net margin of 5.50%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. On average, research analysts anticipate that ACCO Brands Co. will post 1.14 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Friday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 14th. ACCO Brands’s dividend payout ratio is presently 21.05%.

A number of analysts recently issued reports on the stock. ValuEngine raised shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded shares of ACCO Brands from a “hold” rating to a “strong sell” rating in a report on Friday, February 15th. Finally, Barrington Research lowered their price target on shares of ACCO Brands from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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