LSV Asset Management grew its holdings in ACCO Brands Co. (NYSE:ACCO) by 4.3% during the 1st quarter, Holdings Channel reports. The firm owned 4,515,404 shares of the industrial products company’s stock after purchasing an additional 184,700 shares during the quarter. LSV Asset Management’s holdings in ACCO Brands were worth $38,651,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP lifted its stake in shares of ACCO Brands by 45.8% in the 4th quarter. Royce & Associates LP now owns 4,635 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 1,457 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of ACCO Brands by 17.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,032 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of ACCO Brands by 23.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 13,338 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 2,507 shares during the period. First Mercantile Trust Co. lifted its stake in shares of 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 purchasing an additional 2,710 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of ACCO Brands by 24.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,359 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 3,451 shares during the period.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded ACCO Brands from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Barrington Research reissued a “buy” rating and issued a $11.00 price objective on shares of ACCO Brands in a research note on Wednesday, May 8th. Noble Financial set a $14.00 price objective on ACCO Brands and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, ValuEngine downgraded ACCO Brands from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. ACCO Brands currently has an average rating of “Hold” and a consensus price target of $11.50.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. ACCO Brands had a return on equity of 15.99% and a net margin of 4.96%. The business had revenue of $393.90 million for the quarter, compared to the consensus estimate of $391.71 million. During the same period in the prior year, the business earned $0.08 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that ACCO Brands Co. will post 1.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 24th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, May 23rd. ACCO Brands’s dividend payout ratio (DPR) is presently 21.05%.
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About ACCO Brands
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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.
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