Prosperity Consulting Group LLC Sells 29,461 Shares of ACCO Brands Co. (NYSE:ACCO)

Prosperity Consulting Group LLC reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 31.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 62,767 shares of the industrial products company’s stock after selling 29,461 shares during the quarter. Prosperity Consulting Group LLC’s holdings in ACCO Brands were worth $295,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. boosted its position in shares of ACCO Brands by 7.4% during the first quarter. Hillsdale Investment Management Inc. now owns 29,000 shares of the industrial products company’s stock worth $163,000 after buying an additional 2,000 shares during the period. EMC Capital Management boosted its position in ACCO Brands by 8.8% during the 1st quarter. EMC Capital Management now owns 31,083 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 2,509 shares during the last quarter. DMC Group LLC grew its stake in shares of ACCO Brands by 15.5% during the 2nd quarter. DMC Group LLC now owns 23,749 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 3,192 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ACCO Brands by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 118,786 shares of the industrial products company’s stock valued at $667,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of ACCO Brands by 5.1% in the second quarter. Wedge Capital Management L L P NC now owns 177,017 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 8,633 shares in the last quarter. 84.56% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Barrington Research restated an “outperform” rating and issued a $7.00 price objective on shares of ACCO Brands in a report on Wednesday, September 4th.

ACCO Brands Trading Up 2.3 %

Shares of ACCO Brands stock opened at $5.34 on Monday. The stock has a market cap of $511.57 million, a P/E ratio of -19.78, a P/E/G ratio of 0.41 and a beta of 1.62. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. ACCO Brands Co. has a 12-month low of $4.36 and a 12-month high of $6.62. The business’s 50 day moving average is $5.03 and its 200-day moving average is $5.06.

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

ACCO Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

About ACCO Brands

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.