LSV Asset Management Boosts Stock Position in Acco Brands Corporation (NYSE:ACCO)

LSV Asset Management lifted its holdings in Acco Brands Corporation (NYSE:ACCO) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,243,500 shares of the industrial products company’s stock after purchasing an additional 151,300 shares during the quarter. LSV Asset Management owned 3.60% of Acco Brands worth $13,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACCO. Cambridge Investment Research Advisors Inc. lifted its position in Acco Brands by 25.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company’s stock worth $68,000 after buying an additional 3,276 shares during the last quarter. Syon Capital LLC bought a new stake in Acco Brands in the fourth quarter worth $83,000. EP Wealth Advisors LLC lifted its position in Acco Brands by 44.1% in the fourth quarter. EP Wealth Advisors LLC now owns 16,188 shares of the industrial products company’s stock worth $85,000 after buying an additional 4,958 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Acco Brands in the fourth quarter worth $92,000. Finally, Quarry LP lifted its position in Acco Brands by 34.1% in the fourth quarter. Quarry LP now owns 22,226 shares of the industrial products company’s stock worth $117,000 after buying an additional 5,653 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on ACCO shares. Barrington Research lowered their price target on Acco Brands from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Wall Street Zen upgraded Acco Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th.

Acco Brands Stock Up 1.3%

Shares of ACCO opened at $3.49 on Tuesday. The firm has a market capitalization of $314.00 million, a P/E ratio of 7.42, a P/E/G ratio of 0.41 and a beta of 1.39. Acco Brands Corporation has a 12-month low of $3.32 and a 12-month high of $6.43. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. The firm has a fifty day moving average price of $3.70 and a 200-day moving average price of $4.14.

Acco Brands (NYSE:ACCO) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $394.80 million for the quarter, compared to analysts’ expectations of $389.81 million. Acco Brands had a net margin of 2.90% and a return on equity of 13.76%. Equities research analysts expect that Acco Brands Corporation will post 1.02 earnings per share for the current year.

Acco Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 8.6%. The ex-dividend date is Friday, August 22nd. Acco Brands’s dividend payout ratio (DPR) is presently 63.83%.

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.