Renaissance Technologies LLC Has $4.67 Million Stake in ACCO Brands (ACCO)

Renaissance Technologies LLC raised its holdings in shares of ACCO Brands (NYSE:ACCO) by 1,058.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 382,747 shares of the industrial products company’s stock after acquiring an additional 349,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.36% of ACCO Brands worth $4,670,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of ACCO Brands by 81.7% during the 3rd quarter. GSA Capital Partners LLP now owns 76,335 shares of the industrial products company’s stock worth $908,000 after acquiring an additional 34,321 shares in the last quarter. Boston Partners boosted its position in shares of ACCO Brands by 61.3% during the 4th quarter. Boston Partners now owns 3,088,854 shares of the industrial products company’s stock worth $37,684,000 after acquiring an additional 1,174,067 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of ACCO Brands by 6.0% during the 3rd quarter. California Public Employees Retirement System now owns 265,090 shares of the industrial products company’s stock worth $3,155,000 after acquiring an additional 15,065 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of ACCO Brands by 8.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,075,811 shares of the industrial products company’s stock worth $12,803,000 after acquiring an additional 82,306 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of ACCO Brands during the 4th quarter worth about $454,000. 94.90% of the stock is owned by institutional investors and hedge funds.

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ACCO Brands stock opened at $13.40 on Wednesday. ACCO Brands has a fifty-two week low of $10.35 and a fifty-two week high of $14.75. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $1,399.24, a PE ratio of 11.14, a PEG ratio of 0.97 and a beta of 1.28.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. ACCO Brands had a return on equity of 17.97% and a net margin of 6.76%. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. During the same period in the previous year, the business earned $0.32 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. equities research analysts expect that ACCO Brands will post 1.35 EPS for the current year.

The company also recently announced a Not Available dividend, which was paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. ACCO Brands’s payout ratio is currently 20.17%.

ACCO Brands announced that its board has approved a stock buyback plan on Wednesday, February 14th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Several research firms have recently issued reports on ACCO. Zacks Investment Research cut ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, March 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.33.

In other ACCO Brands news, CAO Kathy D. Schnaedter sold 8,178 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $13.05, for a total transaction of $106,722.90. Following the completion of the sale, the chief accounting officer now directly owns 72,299 shares of the company’s stock, valued at approximately $943,501.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gregory J. Mccormack sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $12.57, for a total value of $175,980.00. Following the sale, the senior vice president now directly owns 108,517 shares of the company’s stock, valued at $1,364,058.69. The disclosure for this sale can be found here. Insiders sold a total of 451,058 shares of company stock valued at $6,058,908 over the last three months. Company insiders own 4.10% of the company’s stock.

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ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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