Cornercap Investment Counsel Inc. Increases Stake in ACCO Brands Co. (NYSE:ACCO)

Cornercap Investment Counsel Inc. increased its stake in ACCO Brands Co. (NYSE:ACCO) by 21.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,595 shares of the industrial products company’s stock after purchasing an additional 17,268 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.10% of ACCO Brands worth $463,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in ACCO Brands by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares during the last quarter. LSV Asset Management increased its position in shares of ACCO Brands by 0.7% during the 1st quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock valued at $19,022,000 after purchasing an additional 24,900 shares during the last quarter. Capital Management Corp VA raised its holdings in shares of ACCO Brands by 286.7% during the 1st quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after buying an additional 1,802,250 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ACCO Brands by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after acquiring an additional 68,416 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of ACCO Brands by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock valued at $6,109,000 after purchasing an additional 76,840 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACCO has been the subject of a number of recent research reports. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th.

ACCO Brands Stock Performance

Shares of NYSE:ACCO opened at $5.34 on Friday. ACCO Brands Co. has a 12 month low of $4.36 and a 12 month high of $6.62. The company has a market cap of $511.57 million, a price-to-earnings ratio of -19.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.62. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $5.03 and a 200-day moving average price of $5.07.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. As a group, equities analysts anticipate that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, August 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Insiders Place Their Bets

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is currently owned by company insiders.

ACCO Brands Company Profile

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, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.