Bank of New York Mellon Corp Reduces Stock Holdings in ACCO Brands Co. (NYSE:ACCO)

Bank of New York Mellon Corp lessened its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 27.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 946,692 shares of the industrial products company’s stock after selling 349,905 shares during the period. Bank of New York Mellon Corp’s holdings in ACCO Brands were worth $4,970,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Royce & Associates LP bought a new position in shares of ACCO Brands during the third quarter valued at approximately $80,000. Empowered Funds LLC boosted its holdings in ACCO Brands by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 435,921 shares of the industrial products company’s stock valued at $2,384,000 after acquiring an additional 22,110 shares during the period. Intech Investment Management LLC bought a new position in ACCO Brands in the 3rd quarter valued at $98,000. Foundry Partners LLC increased its stake in ACCO Brands by 15.7% in the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock worth $4,189,000 after purchasing an additional 104,160 shares during the period. Finally, Algert Global LLC lifted its position in shares of ACCO Brands by 7.4% during the third quarter. Algert Global LLC now owns 323,538 shares of the industrial products company’s stock worth $1,770,000 after purchasing an additional 22,308 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Trading Up 1.2 %

Shares of NYSE ACCO opened at $4.57 on Tuesday. ACCO Brands Co. has a twelve month low of $4.30 and a twelve month high of $6.44. The firm has a market cap of $424.84 million, a PE ratio of -4.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The business has a fifty day simple moving average of $5.01 and a two-hundred day simple moving average of $5.32. 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 released its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The firm had revenue of $448.10 million during the quarter, compared to the consensus estimate of $455.06 million. Analysts expect that ACCO Brands Co. will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend is Friday, March 14th. ACCO Brands’s payout ratio is -28.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ACCO shares. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barrington Research dropped their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

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.