Sanctuary Advisors LLC Takes $412,000 Position in ACCO Brands Co. (NYSE:ACCO)

Sanctuary Advisors LLC purchased a new stake in shares of ACCO Brands Co. (NYSE:ACCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 85,311 shares of the industrial products company’s stock, valued at approximately $412,000. Sanctuary Advisors LLC owned 0.09% of ACCO Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Management Corp VA lifted its holdings in ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after purchasing an additional 1,802,250 shares during the period. Bank of Montreal Can purchased a new stake in shares of ACCO Brands in the second quarter worth approximately $4,588,000. Allspring Global Investments Holdings LLC lifted its position in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after purchasing an additional 706,291 shares in the last quarter. Millennium Management LLC raised its position in ACCO Brands by 116.1% during the second quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after acquiring an additional 630,663 shares in the last quarter. Finally, American Century Companies Inc. raised its position in ACCO Brands by 113.0% during the second quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock valued at $5,001,000 after acquiring an additional 564,406 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a research report on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

Insider Buying and Selling

In related news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the transaction, the senior vice president now owns 243,899 shares in the company, valued at $1,334,127.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.30% of the stock is owned by corporate insiders.

ACCO Brands Stock Up 1.8 %

Shares of ACCO stock opened at $5.20 on Thursday. The stock has a market cap of $497.12 million, a P/E ratio of -19.26, a price-to-earnings-growth ratio of 0.42 and a beta of 1.62. ACCO Brands Co. has a one year low of $4.36 and a one year high of $6.62. The stock has a fifty day moving average price of $5.25 and a 200 day moving average price of $5.04. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Analysts predict that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 annualized dividend and a yield of 5.77%. ACCO Brands’s dividend payout ratio (DPR) is -111.11%.

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.