ACCO Brands Co. (NYSE:ACCO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 262,835 shares of the industrial products company’s stock after selling 5,258 shares during the quarter. Victory Capital Management Inc. owned approximately 0.27% of ACCO Brands worth $1,438,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in ACCO Brands during the 2nd quarter worth approximately $4,588,000. Millennium Management LLC increased its holdings in ACCO Brands by 116.1% in 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 buying an additional 630,663 shares during the last quarter. American Century Companies Inc. raised its stake in ACCO Brands by 113.0% in 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 buying an additional 564,406 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in ACCO Brands by 160.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 819,268 shares of the industrial products company’s stock worth $3,851,000 after buying an additional 504,876 shares during the last quarter. Finally, Capital Management Corp VA boosted its position in shares of ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after acquiring an additional 439,810 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACCO. Barrington Research boosted their target price on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Trading Up 2.4 %

ACCO opened at $5.96 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. ACCO Brands Co. has a 52 week low of $4.36 and a 52 week high of $6.62. The business’s 50 day moving average is $5.43 and its two-hundred day moving average is $5.14. The firm has a market cap of $553.56 million, a price-to-earnings ratio of -3.15, a price-to-earnings-growth ratio of 0.47 and a beta of 1.63.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The firm had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same quarter in the prior year, the firm earned $0.24 EPS. ACCO Brands’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is presently -15.87%.

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.