Truist Financial Corp Sells 18,880 Shares of ACCO Brands Co. (NYSE:ACCO)

Truist Financial Corp decreased its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 61.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,707 shares of the industrial products company’s stock after selling 18,880 shares during the period. Truist Financial Corp’s holdings in ACCO Brands were worth $61,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 3,260 shares during the period. EP Wealth Advisors LLC bought a new position in ACCO Brands in the third quarter worth approximately $61,000. Y Intercept Hong Kong Ltd bought a new position in ACCO Brands in the third quarter worth approximately $63,000. Burns Matteson Capital Management LLC bought a new position in ACCO Brands in the fourth quarter worth approximately $61,000. Finally, Royce & Associates LP bought a new position in ACCO Brands in the third quarter worth approximately $80,000. Institutional investors own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ACCO has been the topic of several recent research reports. StockNews.com downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Barrington Research reduced their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th.

ACCO Brands Stock Performance

Shares of NYSE ACCO opened at $4.71 on Friday. The firm has a fifty day moving average price of $5.09 and a 200-day moving average price of $5.35. 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 stock has a market cap of $437.01 million, a PE ratio of -4.44, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68. ACCO Brands Co. has a 1 year low of $4.30 and a 1 year high of $6.44.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $448.10 million during the quarter, compared to analysts’ expectations of $455.06 million. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. Equities analysts anticipate that ACCO Brands Co. will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.38%. ACCO Brands’s payout ratio is -28.30%.

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.