Point72 Asia Singapore Pte. Ltd. trimmed its stake in ACCO Brands Co. (NYSE:ACCO – Free Report) by 15.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,504 shares of the industrial products company’s stock after selling 3,346 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in ACCO Brands were worth $87,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of ACCO Brands during the first quarter valued at approximately $65,000. Somerset Trust Co bought a new stake in ACCO Brands during the 2nd quarter valued at $57,000. SG Americas Securities LLC purchased a new stake in shares of ACCO Brands in the 1st quarter worth $71,000. Paloma Partners Management Co bought a new position in shares of ACCO Brands during the 1st quarter worth $74,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of ACCO Brands during the first quarter valued at $88,000. 84.56% of the stock is currently owned by institutional investors.
ACCO Brands Trading Up 0.7 %
ACCO opened at $5.41 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The firm has a market cap of $517.20 million, a price-to-earnings ratio of -20.04, a PEG ratio of 0.42 and a beta of 1.62. ACCO Brands Co. has a 12 month low of $4.36 and a 12 month high of $6.62. The stock has a fifty day moving average price of $5.16 and a 200-day moving average price of $5.06.
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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a yield of 5.55%. ACCO Brands’s payout ratio is -111.11%.
Insider Buying and Selling at ACCO Brands
In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.30% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note 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.
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