Fmr LLC Has $32,000 Stake in ACCO Brands Co. (NYSE:ACCO)

Fmr LLC grew its position in ACCO Brands Co. (NYSE:ACCO) by 123.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,911 shares of the industrial products company’s stock after purchasing an additional 3,260 shares during the quarter. Fmr LLC’s holdings in ACCO Brands were worth $32,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Algert Global LLC raised its holdings in shares of ACCO Brands by 7.4% during the 3rd quarter. Algert Global LLC now owns 323,538 shares of the industrial products company’s stock worth $1,770,000 after buying an additional 22,308 shares in the last quarter. Foundry Partners LLC raised its stake in ACCO Brands by 15.7% during the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock worth $4,189,000 after acquiring an additional 104,160 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of ACCO Brands in the third quarter worth about $98,000. Empowered Funds LLC boosted its stake in shares of ACCO Brands by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 435,921 shares of the industrial products company’s stock valued at $2,384,000 after purchasing an additional 22,110 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in shares of ACCO Brands during the 3rd quarter valued at approximately $80,000. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Stock Performance

Shares of ACCO Brands stock opened at $5.27 on Thursday. The stock has a market cap of $489.48 million, a price-to-earnings ratio of -2.79, a P/E/G ratio of 0.48 and a beta of 1.67. ACCO Brands Co. has a twelve month low of $4.36 and a twelve month high of $6.62. The company’s fifty day moving average is $5.65 and its 200 day moving average is $5.25. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

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

ACCO Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th were issued a $0.075 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.30 annualized dividend and a yield of 5.69%. ACCO Brands’s payout ratio is currently -15.87%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ACCO. Barrington Research increased their price objective on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com cut ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th.

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.