Point72 DIFC Ltd Sells 6,416 Shares of ACCO Brands Co. (NYSE:ACCO)

Point72 DIFC Ltd decreased its stake in ACCO Brands Co. (NYSE:ACCO) by 43.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,509 shares of the industrial products company’s stock after selling 6,416 shares during the quarter. Point72 DIFC Ltd’s holdings in ACCO Brands were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in shares of ACCO Brands by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after buying an additional 706,291 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of ACCO Brands in the first quarter worth about $810,000. Caxton Associates LP raised its position in shares of ACCO Brands by 421.5% during the first quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock worth $842,000 after purchasing an additional 121,331 shares during the period. Nisa Investment Advisors LLC lifted its holdings 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 valued at $76,000 after purchasing an additional 14,507 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ACCO Brands by 96.7% in the 1st quarter. BNP Paribas Financial Markets now owns 134,397 shares of the industrial products company’s stock valued at $754,000 after purchasing an additional 66,070 shares during the period. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Stock Up 0.7 %

NYSE:ACCO opened at $5.41 on Monday. The company has a market cap of $517.20 million, a PE ratio of -20.04, a PEG ratio of 0.42 and a beta of 1.62. The stock has a 50-day simple moving average of $5.16 and a 200 day simple moving average of $5.06. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, sell-side analysts expect that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Friday, August 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on ACCO. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research restated an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a report on Wednesday, September 4th.

Insider Buying and Selling

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the transaction, the senior vice president now directly owns 243,899 shares in the company, valued at $1,334,127.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.30% of the stock is currently owned by corporate insiders.

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.