ACCO Brands Co. (NYSE:ACCO) Shares Acquired by Millennium Management LLC

Millennium Management LLC raised its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 116.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,173,755 shares of the industrial products company’s stock after acquiring an additional 630,663 shares during the period. Millennium Management LLC owned approximately 1.23% of ACCO Brands worth $5,517,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of ACCO Brands by 34.6% in the second quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock valued at $7,788,000 after purchasing an additional 426,201 shares during the period. Squarepoint Ops LLC lifted its stake in ACCO Brands by 257.2% in the second quarter. Squarepoint Ops LLC now owns 319,438 shares of the industrial products company’s stock worth $1,501,000 after acquiring an additional 230,012 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in ACCO Brands by 79.2% in the second quarter. Cubist Systematic Strategies LLC now owns 255,486 shares of the industrial products company’s stock worth $1,201,000 after acquiring an additional 112,912 shares during the last quarter. Bank of Montreal Can purchased a new position in ACCO Brands in the second quarter worth approximately $4,588,000. Finally, Evergreen Capital Management LLC lifted its stake in ACCO Brands by 80.8% in the second quarter. Evergreen Capital Management LLC now owns 18,607 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 8,317 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

ACCO Brands Stock Up 0.4 %

ACCO stock opened at $5.25 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. ACCO Brands Co. has a twelve month low of $4.36 and a twelve month high of $6.62. The company’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.05. The stock has a market cap of $502.95 million, a P/E ratio of -2.87, a PEG ratio of 0.42 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The company had revenue of $438.30 million for the quarter, compared to analysts’ expectations of $452.73 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. Research analysts expect that ACCO Brands Co. will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.71%. ACCO Brands’s payout ratio is -16.39%.

Analyst Upgrades and Downgrades

ACCO has been the subject of a number of recent research reports. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research reiterated an “outperform” rating and issued a $7.00 price target on shares of ACCO Brands in a research note on Wednesday, September 4th.

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at $1,334,127.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.30% of the company’s stock.

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.