Fmr LLC Purchases 3,260 Shares of ACCO Brands Co. (NYSE:ACCO)

Fmr LLC grew its position in ACCO Brands Co. (NYSE:ACCO) by 123.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,911 shares of the industrial products company’s stock after acquiring an additional 3,260 shares during the quarter. Fmr LLC’s holdings in ACCO Brands were worth $32,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC raised its position in ACCO Brands by 68.3% in the third quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 2,800 shares in the last quarter. Royce & Associates LP acquired a new position in shares of ACCO Brands in the 3rd quarter worth approximately $80,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of ACCO Brands during the 3rd quarter worth approximately $86,000. Evergreen Capital Management LLC boosted its stake in ACCO Brands by 80.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 18,607 shares of the industrial products company’s stock valued at $87,000 after buying an additional 8,317 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in ACCO Brands in the third quarter valued at $98,000. Institutional investors and hedge funds own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

ACCO has been the topic of several research analyst reports. StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Barrington Research raised their price target on ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Friday, November 22nd.

ACCO Brands Stock Performance

Shares of ACCO stock opened at $5.27 on Thursday. The stock has a 50-day moving average of $5.65 and a 200-day moving average of $5.25. ACCO Brands Co. has a one year low of $4.36 and a one year high of $6.62. The stock has a market cap of $489.48 million, a PE ratio of -2.79, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. ACCO Brands’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, sell-side analysts expect that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend was Friday, November 15th. 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.