Verition Fund Management LLC Cuts Stock Holdings in ACCO Brands Co. (NYSE:ACCO)

Verition Fund Management LLC lowered its position in ACCO Brands Co. (NYSE:ACCO) by 32.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,908 shares of the industrial products company’s stock after selling 19,700 shares during the period. Verition Fund Management LLC’s holdings in ACCO Brands were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. CWM LLC increased its holdings in shares of ACCO Brands by 423.9% in the 2nd quarter. CWM LLC now owns 19,064 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 15,425 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $3,851,000 after acquiring an additional 504,876 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of ACCO Brands by 841.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 14,507 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ACCO Brands by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock worth $6,109,000 after acquiring an additional 76,840 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in ACCO Brands in the 2nd quarter valued at approximately $773,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented 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 report on Friday, November 22nd. StockNews.com upgraded shares of ACCO Brands from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

ACCO Brands Trading Down 2.5 %

Shares of ACCO opened at $5.89 on Monday. ACCO Brands Co. has a 1-year low of $4.36 and a 1-year high of $6.62. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $5.23. The stock has a market cap of $547.06 million, a price-to-earnings ratio of -3.12, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same quarter last year, the business posted $0.24 earnings per share. ACCO Brands’s revenue was down 6.0% compared to the same quarter last year. Equities analysts forecast that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 5.09%. ACCO Brands’s dividend payout ratio is currently -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.