Exchange Traded Concepts LLC reduced its stake in shares of ACCO Brands Co. (NYSE:ACCO – Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,218 shares of the industrial products company’s stock after selling 2,749 shares during the quarter. Exchange Traded Concepts LLC owned 0.08% of ACCO Brands worth $371,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ACCO. Medina Value Partners LLC purchased a new position in ACCO Brands during the fourth quarter valued at approximately $8,970,000. AQR Capital Management LLC raised its position in ACCO Brands by 77.4% during the fourth quarter. AQR Capital Management LLC now owns 2,102,061 shares of the industrial products company’s stock valued at $11,751,000 after acquiring an additional 916,973 shares in the last quarter. Norges Bank purchased a new position in ACCO Brands during the fourth quarter valued at approximately $4,803,000. Putnam Investments LLC raised its position in ACCO Brands by 870.0% during the first quarter. Putnam Investments LLC now owns 688,987 shares of the industrial products company’s stock valued at $3,665,000 after acquiring an additional 617,959 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in ACCO Brands by 69.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,295,907 shares of the industrial products company’s stock valued at $10,367,000 after acquiring an additional 531,755 shares in the last quarter. 81.01% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other ACCO Brands news, SVP Gregory J. Mccormack sold 11,723 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $5.16, for a total transaction of $60,490.68. Following the transaction, the senior vice president now owns 129,094 shares of the company’s stock, valued at $666,125.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is currently owned by corporate insiders.
ACCO Brands Stock Performance
ACCO Brands (NYSE:ACCO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. The firm had revenue of $494.00 million for the quarter, compared to analyst estimates of $488.52 million. ACCO Brands had a positive return on equity of 12.33% and a negative net margin of 1.45%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. As a group, equities research analysts expect that ACCO Brands Co. will post 1.1 earnings per share for the current fiscal year.
ACCO Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date was Monday, August 21st. ACCO Brands’s dividend payout ratio (DPR) is currently -100.00%.
Wall Street Analyst Weigh In
Several brokerages have commented on ACCO. Barrington Research reissued an “outperform” rating and issued a $8.00 price objective on shares of ACCO Brands in a report on Monday, August 21st. StockNews.com began coverage on ACCO Brands in a report on Thursday. They issued a “buy” rating on the stock.
Read Our Latest Stock Report on ACCO
About ACCO Brands
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.
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