Bank of New York Mellon Corp Sells 349,905 Shares of ACCO Brands Co. (NYSE:ACCO)

Bank of New York Mellon Corp decreased its position in ACCO Brands Co. (NYSE:ACCO) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 946,692 shares of the industrial products company’s stock after selling 349,905 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of ACCO Brands worth $4,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ACCO. Allspring Global Investments Holdings LLC increased its stake in shares of ACCO Brands by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company’s stock worth $31,767,000 after purchasing an additional 97,086 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of ACCO Brands during the 4th quarter valued at about $61,000. Empowered Funds LLC grew its stake in shares of ACCO Brands by 1.9% during the 4th quarter. Empowered Funds LLC now owns 444,171 shares of the industrial products company’s stock valued at $2,332,000 after acquiring an additional 8,250 shares during the period. EMC Capital Management increased its holdings in ACCO Brands by 65.0% in the 4th quarter. EMC Capital Management now owns 31,083 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 12,240 shares in the last quarter. Finally, DMC Group LLC raised its stake in ACCO Brands by 9.5% during the 4th quarter. DMC Group LLC now owns 28,783 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,496 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ACCO. Barrington Research dropped their price target on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th.

ACCO Brands Trading Up 1.2 %

ACCO stock opened at $4.57 on Tuesday. The company has a market capitalization of $424.84 million, a price-to-earnings ratio of -4.32, a PEG ratio of 0.37 and a beta of 1.74. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. ACCO Brands Co. has a 1-year low of $4.30 and a 1-year high of $6.44. The business has a 50 day simple moving average of $5.01 and a two-hundred day simple moving average of $5.32.

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

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.56%. ACCO Brands’s dividend payout ratio is currently -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.