ACCO Brands Co. (NYSE:ACCO) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,023,805 shares of the industrial products company’s stock after purchasing an additional 272,454 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of ACCO Brands worth $32,950,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. nVerses Capital LLC increased its position in shares of ACCO Brands by 68.3% during the third quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 2,800 shares in the last quarter. Somerset Trust Co purchased a new position in shares of ACCO Brands in the second quarter worth about $57,000. Innealta Capital LLC purchased a new stake in ACCO Brands during the 1st quarter valued at about $65,000. SG Americas Securities LLC purchased a new position in ACCO Brands in the 1st quarter worth approximately $71,000. Finally, Paloma Partners Management Co acquired a new position in shares of ACCO Brands during the 1st quarter worth approximately $74,000. Institutional investors and hedge funds own 84.56% of the company’s stock.

ACCO Brands Trading Down 4.2 %

ACCO opened at $4.88 on Thursday. The stock has a market capitalization of $466.05 million, a PE ratio of -18.06, a P/E/G ratio of 0.42 and a beta of 1.62. ACCO Brands Co. has a one year low of $4.36 and a one year high of $6.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The business’s 50 day moving average price is $5.28 and its 200 day moving average price is $5.03.

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

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date was Friday, August 16th. ACCO Brands’s payout ratio is -111.11%.

Analyst Upgrades and Downgrades

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

Insider Transactions at ACCO Brands

In related news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.30% of the company’s stock.

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.