ProShare Advisors LLC Reduces Holdings in ACCO Brands Co. (NYSE:ACCO)

ProShare Advisors LLC reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,377 shares of the industrial products company’s stock after selling 4,226 shares during the quarter. ProShare Advisors LLC’s holdings in ACCO Brands were worth $58,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ACCO. Somerset Trust Co acquired a new stake in shares of ACCO Brands in the 2nd quarter valued at $57,000. Innealta Capital LLC acquired a new stake in shares of ACCO Brands in the 1st quarter valued at $65,000. SG Americas Securities LLC purchased a new position in shares of ACCO Brands in the 1st quarter valued at $71,000. Paloma Partners Management Co purchased a new position in shares of ACCO Brands in the 1st quarter valued at $74,000. Finally, Nisa Investment Advisors LLC grew its position in shares of ACCO Brands by 841.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock valued at $76,000 after buying an additional 14,507 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

ACCO Brands Trading Down 0.2 %

Shares of ACCO Brands stock opened at $5.24 on Tuesday. 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 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The company has a market capitalization of $500.94 million, a P/E ratio of -19.41, a PEG ratio of 0.42 and a beta of 1.62. The company’s fifty day moving average is $5.20 and its two-hundred day moving average is $5.05.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The company had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was down 11.3% on a year-over-year basis. Analysts forecast 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, September 4th. Investors of record on Friday, August 16th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is -111.11%.

Wall Street Analyst Weigh In

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

Insider Activity at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.30% of the company’s stock.

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.