Wealth Enhancement Advisory Services LLC Acquires New Shares in ACCO Brands Co. (NYSE:ACCO)

Wealth Enhancement Advisory Services LLC acquired a new stake in ACCO Brands Co. (NYSE:ACCO) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 15,754 shares of the industrial products company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in ACCO Brands in the 1st quarter valued at approximately $810,000. Caxton Associates LP lifted its position in ACCO Brands by 421.5% in the 1st quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock valued at $842,000 after acquiring an additional 121,331 shares in the last quarter. Bank of Montreal Can bought a new position in ACCO Brands in the 2nd quarter valued at approximately $4,588,000. Millennium Management LLC lifted its holdings in shares of ACCO Brands by 116.1% during the 2nd quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after buying an additional 630,663 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of ACCO Brands by 841.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock valued at $76,000 after buying an additional 14,507 shares during the period. 84.56% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the transaction, the senior vice president now directly owns 243,899 shares in the company, valued at $1,334,127.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

ACCO Brands Price Performance

NYSE ACCO opened at $6.24 on Thursday. ACCO Brands Co. has a 1-year low of $4.36 and a 1-year high of $6.62. The business’s fifty day moving average price is $5.34 and its 200-day moving average price is $5.08. The stock has a market capitalization of $579.57 million, a price-to-earnings ratio of -3.30, a PEG ratio of 0.50 and a beta of 1.63. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The company had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. During the same period last year, the firm earned $0.24 EPS. ACCO Brands’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts predict that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 4.81%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACCO shares. Barrington Research reissued an “outperform” rating and set a $7.00 price target on shares of ACCO Brands in a report on Wednesday, September 4th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

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.