Victory Capital Management Inc. trimmed its position in ACCO Brands Co. (NYSE:ACCO – Free Report) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,368 shares of the industrial products company’s stock after selling 2,487 shares during the quarter. Victory Capital Management Inc. owned 0.24% of ACCO Brands worth $1,200,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of ACCO Brands by 0.9% during the first quarter. BlackRock Inc. now owns 10,391,148 shares of the industrial products company’s stock worth $83,131,000 after buying an additional 92,697 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ACCO Brands by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,870,283 shares of the industrial products company’s stock valued at $36,549,000 after buying an additional 28,862 shares during the period. Invesco Ltd. lifted its holdings in ACCO Brands by 0.6% in the first quarter. Invesco Ltd. now owns 2,444,408 shares of the industrial products company’s stock valued at $19,555,000 after buying an additional 14,534 shares during the period. Morgan Stanley lifted its holdings in ACCO Brands by 2.9% in the fourth quarter. Morgan Stanley now owns 2,370,041 shares of the industrial products company’s stock valued at $13,249,000 after buying an additional 67,712 shares during the period. Finally, State Street Corp lifted its holdings in ACCO Brands by 0.7% in the first quarter. State Street Corp now owns 2,270,097 shares of the industrial products company’s stock valued at $18,161,000 after buying an additional 15,706 shares during the period. Institutional investors own 81.01% of the company’s stock.
Insider Activity at ACCO Brands
In related news, SVP Gregory J. Mccormack sold 11,723 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were 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 in the company, valued at $666,125.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by corporate insiders.
ACCO Brands Stock Performance
ACCO Brands (NYSE:ACCO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. The business had revenue of $494.00 million during the quarter, compared to the consensus estimate of $488.52 million. ACCO Brands had a negative net margin of 1.45% and a positive return on equity of 12.33%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. As a group, equities research analysts predict that ACCO Brands Co. will post 1.1 EPS for the current fiscal year.
ACCO Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Wednesday, November 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Tuesday, November 14th. ACCO Brands’s payout ratio is -100.00%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ACCO shares. StockNews.com initiated coverage on shares of ACCO Brands in a report on Thursday, October 5th. They set a “buy” rating on the stock. Barrington Research restated an “outperform” rating and set a $8.00 price target on shares of ACCO Brands in a research note on Monday, August 21st.
Read Our Latest Stock Analysis on ACCO
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.
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