JPMorgan Chase & Co. Buys 16,714 Shares of ACCO Brands Co. (NYSE:ACCO)

JPMorgan Chase & Co. grew its stake in ACCO Brands Co. (NYSE:ACCO) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 518,123 shares of the industrial products company’s stock after acquiring an additional 16,714 shares during the period. JPMorgan Chase & Co. owned 0.56% of ACCO Brands worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in ACCO Brands by 15.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 98,646 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 13,335 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of ACCO Brands during the third quarter worth $188,000. Barclays PLC lifted its stake in shares of ACCO Brands by 285.3% during the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock valued at $810,000 after acquiring an additional 109,813 shares during the period. Arete Wealth Advisors LLC boosted its holdings in ACCO Brands by 30.5% in the third quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 10,801 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in ACCO Brands by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after purchasing an additional 53,490 shares during the period. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barrington Research upped their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research report 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 Stock Up 0.7 %

Shares of ACCO Brands stock opened at $5.25 on Tuesday. The business has a fifty day simple moving average of $5.60 and a 200 day simple moving average of $5.31. The stock has a market cap of $487.16 million, a PE ratio of -2.78, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. ACCO Brands Co. has a 12 month low of $4.36 and a 12 month high of $6.62.

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 the consensus estimate of $0.23. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. Research analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.72%. ACCO Brands’s dividend payout ratio is -15.87%.

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.