Bailard Inc. reduced its position in shares of ACCO Brands (NYSE:ACCO) by 9.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,800 shares of the industrial products company’s stock after selling 7,200 shares during the period. Bailard Inc. owned about 0.06% of ACCO Brands worth $851,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of ACCO. LSV Asset Management lifted its holdings in ACCO Brands by 0.5% in the fourth quarter. LSV Asset Management now owns 4,545,904 shares of the industrial products company’s stock worth $55,460,000 after purchasing an additional 23,000 shares during the period. Wells Fargo & Company MN lifted its holdings in ACCO Brands by 15.0% in the 1st quarter. Wells Fargo & Company MN now owns 3,995,400 shares of the industrial products company’s stock valued at $50,144,000 after acquiring an additional 520,381 shares during the last quarter. Boston Partners lifted its holdings in ACCO Brands by 61.3% in the 4th quarter. Boston Partners now owns 3,088,854 shares of the industrial products company’s stock valued at $37,684,000 after acquiring an additional 1,174,067 shares during the last quarter. Millennium Management LLC lifted its holdings in ACCO Brands by 699.5% in the 4th quarter. Millennium Management LLC now owns 2,104,751 shares of the industrial products company’s stock valued at $25,678,000 after acquiring an additional 1,841,491 shares during the last quarter. Finally, James Investment Research Inc. lifted its holdings in ACCO Brands by 22.0% in the 4th quarter. James Investment Research Inc. now owns 1,278,726 shares of the industrial products company’s stock valued at $15,600,000 after acquiring an additional 231,017 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Thomas W. Tedford sold 241,266 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $13.36, for a total value of $3,223,313.76. Following the completion of the sale, the vice president now directly owns 190,500 shares in the company, valued at $2,545,080. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert J. Keller sold 58,035 shares of ACCO Brands stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.46, for a total value of $781,151.10. Following the completion of the sale, the director now owns 272,840 shares of the company’s stock, valued at $3,672,426.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,360 shares of company stock valued at $5,531,068. 4.50% of the stock is currently owned by corporate insiders.
ACCO Brands (NYSE:ACCO) last issued its earnings results on Tuesday, May 1st. The industrial products company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $405.80 million during the quarter, compared to analysts’ expectations of $386.94 million. ACCO Brands had a return on equity of 18.22% and a net margin of 6.94%. ACCO Brands’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. sell-side analysts predict that ACCO Brands will post 1.36 EPS for the current year.
ACCO Brands declared that its board has authorized a stock buyback plan on Wednesday, February 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Friday, June 1st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.24 annualized dividend and a yield of 1.92%. ACCO Brands’s dividend payout ratio is currently 20.17%.
ACCO has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, March 17th. BWS Financial set a $18.00 price objective on ACCO Brands and gave the stock a “buy” rating in a report on Tuesday, May 1st. Finally, Noble Financial assumed coverage on ACCO Brands in a report on Wednesday, May 2nd. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.67.
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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