State Street Corp Has $11.50 Million Position in ACCO Brands Co. (NYSE:ACCO)

State Street Corp trimmed its position in shares of ACCO Brands Co. (NYSE:ACCO) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,102,511 shares of the industrial products company’s stock after selling 10,839 shares during the quarter. State Street Corp owned approximately 2.26% of ACCO Brands worth $11,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp boosted its position in ACCO Brands by 2.7% during the 3rd quarter. Stifel Financial Corp now owns 313,644 shares of the industrial products company’s stock worth $1,716,000 after buying an additional 8,153 shares during the period. Quarry LP lifted its holdings in shares of ACCO Brands by 749.0% during the third quarter. Quarry LP now owns 16,573 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 14,621 shares during the period. HighTower Advisors LLC grew its stake in shares of ACCO Brands by 21.0% in the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 12,508 shares during the last quarter. FMR LLC increased its holdings in ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 3,260 shares during the period. Finally, Algert Global LLC raised its position in ACCO Brands by 7.4% during the 3rd quarter. Algert Global LLC now owns 323,538 shares of the industrial products company’s stock worth $1,770,000 after purchasing an additional 22,308 shares during the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

ACCO Brands Price Performance

ACCO stock opened at $5.27 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company’s fifty day simple moving average is $5.65 and its 200 day simple moving average is $5.25. ACCO Brands Co. has a 12-month low of $4.36 and a 12-month high of $6.62. The firm has a market cap of $489.48 million, a price-to-earnings ratio of -2.79, a PEG ratio of 0.48 and a beta of 1.67.

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

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th were issued a $0.075 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.30 annualized dividend and a yield of 5.69%. ACCO Brands’s payout ratio is currently -15.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACCO. Barrington Research increased their price target on ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com lowered shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th.

ACCO Brands 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.