Wedge Capital Management L L P NC Grows Position in ACCO Brands Co. (NYSE:ACCO)

Wedge Capital Management L L P NC boosted its stake in ACCO Brands Co. (NYSE:ACCO) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,805 shares of the industrial products company’s stock after purchasing an additional 2,788 shares during the quarter. Wedge Capital Management L L P NC owned about 0.19% of ACCO Brands worth $984,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ACCO. Somerset Trust Co purchased a new stake in ACCO Brands during the second quarter worth approximately $57,000. Innealta Capital LLC purchased a new stake in ACCO Brands during the first quarter worth approximately $65,000. SG Americas Securities LLC purchased a new stake in ACCO Brands during the first quarter worth approximately $71,000. Paloma Partners Management Co purchased a new stake in ACCO Brands during the first quarter worth approximately $74,000. Finally, Nisa Investment Advisors LLC grew its stake in ACCO Brands by 841.0% during the second quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock worth $76,000 after buying an additional 14,507 shares during the period. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACCO has been the subject of several research reports. StockNews.com upgraded shares of 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 target price on shares of ACCO Brands in a research report on Wednesday, September 4th.

ACCO Brands Stock Up 1.8 %

Shares of NYSE:ACCO opened at $5.20 on Thursday. The stock has a market capitalization of $497.12 million, a price-to-earnings ratio of -19.26, a price-to-earnings-growth ratio of 0.42 and a beta of 1.62. ACCO Brands Co. has a 1-year low of $4.36 and a 1-year high of $6.62. The company’s fifty day moving average is $5.25 and its two-hundred day moving average is $5.04. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77.

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

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were given a dividend of $0.075 per share. The ex-dividend date was Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 5.77%. ACCO Brands’s dividend payout ratio is currently -111.11%.

Insider Transactions at ACCO Brands

In related news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at $1,334,127.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.30% of the company’s stock.

ACCO Brands 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.