ACCO Brands Co. (NYSE:ACCO) Position Lessened by LSV Asset Management

LSV Asset Management trimmed its position in shares of ACCO Brands Co. (NYSE:ACCO) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,385,800 shares of the industrial products company’s stock after selling 4,900 shares during the period. LSV Asset Management’s holdings in ACCO Brands were worth $15,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ACCO. Allspring Global Investments Holdings LLC raised its holdings in ACCO Brands by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after buying an additional 706,291 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in ACCO Brands during the first quarter valued at about $810,000. Caxton Associates LP raised its holdings in ACCO Brands by 421.5% during the first quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock valued at $842,000 after buying an additional 121,331 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings 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 valued at $76,000 after buying an additional 14,507 shares in the last quarter. Finally, Aigen Investment Management LP raised its holdings in ACCO Brands by 45.8% during the fourth quarter. Aigen Investment Management LP now owns 64,739 shares of the industrial products company’s stock valued at $394,000 after buying an additional 20,350 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the sale, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

ACCO Brands Trading Down 1.7 %

Shares of NYSE:ACCO opened at $5.16 on Wednesday. The company has a market cap of $494.33 million, a P/E ratio of -19.11, a P/E/G ratio of 0.41 and a beta of 1.62. The stock’s 50-day moving average is $4.99 and its 200-day moving average is $5.07. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week 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.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $438.30 million for 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 firm’s revenue was down 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Equities research analysts predict that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

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.