Royce & Associates LP lifted its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 45.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,635 shares of the industrial products company’s stock after purchasing an additional 1,457 shares during the period. Royce & Associates LP’s holdings in ACCO Brands were worth $31,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in shares of ACCO Brands by 17.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 2,032 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of ACCO Brands during the 3rd quarter worth approximately $119,000. Verition Fund Management LLC purchased a new stake in shares of ACCO Brands during the 3rd quarter worth approximately $152,000. First Mercantile Trust Co. grew its stake in ACCO Brands by 13.7% in the 4th quarter. First Mercantile Trust Co. now owns 22,519 shares of the industrial products company’s stock valued at $153,000 after buying an additional 2,710 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in ACCO Brands by 2,604.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,386 shares of the industrial products company’s stock valued at $163,000 after buying an additional 13,854 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.
A number of research analysts recently weighed in on the stock. ValuEngine lowered shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of ACCO Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, February 15th. Finally, Barrington Research reduced their price objective on shares of ACCO Brands from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, February 14th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. ACCO Brands has a consensus rating of “Hold” and an average price target of $14.75.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Wednesday, February 13th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). ACCO Brands had a net margin of 5.50% and a return on equity of 16.00%. The business had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $553.42 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. Sell-side analysts forecast that ACCO Brands Co. will post 1.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Friday, March 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 2.70%. ACCO Brands’s dividend payout ratio is 21.05%.
ACCO Brands 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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