Raymond James & Associates Decreases Stake in ACCO Brands Co. (ACCO)

Raymond James & Associates reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,832 shares of the industrial products company’s stock after selling 19,579 shares during the period. Raymond James & Associates owned 0.14% of ACCO Brands worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ACCO. Oppenheimer & Co. Inc. boosted its stake in shares of ACCO Brands by 17.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,032 shares in the last quarter. First Mercantile Trust Co. lifted its position in ACCO Brands by 13.7% during the fourth quarter. First Mercantile Trust Co. now owns 22,519 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 2,710 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in ACCO Brands by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 75,832 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 5,902 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in ACCO Brands by 27.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 29,776 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 6,400 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its position in ACCO Brands by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 181,135 shares of the industrial products company’s stock valued at $2,047,000 after acquiring an additional 6,842 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

A number of research firms recently commented on ACCO. Zacks Investment Research cut shares of ACCO Brands from a “hold” rating to a “strong sell” rating in a research report on Friday, February 15th. Barrington Research decreased their target price on shares of ACCO Brands from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, February 14th. Finally, ValuEngine raised shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.75.

Shares of NYSE ACCO traded up $0.14 during midday trading on Wednesday, reaching $8.95. The company had a trading volume of 204,811 shares, compared to its average volume of 543,983. The stock has a market cap of $906.14 million, a P/E ratio of 7.85, a P/E/G ratio of 0.78 and a beta of 1.82. ACCO Brands Co. has a 1 year low of $6.07 and a 1 year high of $14.63. The company has a current ratio of 1.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Wednesday, February 13th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The company had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $553.42 million. ACCO Brands had a return on equity of 16.00% and a net margin of 5.50%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. As a group, sell-side analysts forecast that ACCO Brands Co. will post 1.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 15th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.68%. ACCO Brands’s payout ratio is currently 21.05%.

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About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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