American International Group Inc. lessened its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 4.8% during the first quarter, HoldingsChannel reports. The firm owned 64,909 shares of the industrial products company’s stock after selling 3,244 shares during the period. American International Group Inc.’s holdings in ACCO Brands were worth $556,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of ACCO Brands by 433.8% during the 1st quarter. Boston Partners now owns 15,997,032 shares of the industrial products company’s stock worth $663,831,000 after acquiring an additional 13,000,164 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of ACCO Brands by 18.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 743,694 shares of the industrial products company’s stock worth $6,364,000 after acquiring an additional 114,775 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of ACCO Brands by 183.1% during the 1st quarter. SG Americas Securities LLC now owns 34,673 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 22,426 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in shares of ACCO Brands during the 1st quarter worth $88,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of ACCO Brands by 159.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,297 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 14,923 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on ACCO. Zacks Investment Research downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research reaffirmed a “buy” rating and set a $11.00 price objective on shares of ACCO Brands in a report on Wednesday, May 8th. Noble Financial set a $14.00 price objective on shares of ACCO Brands and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, ValuEngine downgraded shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.25.
Shares of NYSE:ACCO opened at $7.68 on Thursday. The firm has a market capitalization of $792.22 million, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.90. ACCO Brands Co. has a 52 week low of $6.07 and a 52 week high of $14.63. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.91 and a current ratio of 1.68.
ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $393.90 million for the quarter, compared to analysts’ expectations of $391.71 million. ACCO Brands had a net margin of 4.96% and a return on equity of 15.99%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. As a group, equities analysts forecast that ACCO Brands Co. will post 1.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 24th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, May 23rd. ACCO Brands’s payout ratio is presently 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, 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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