State of New Jersey Common Pension Fund D Decreases Stock Holdings in ACCO Brands Co. (NYSE:ACCO)

State of New Jersey Common Pension Fund D trimmed its stake in shares of ACCO Brands Co. (NYSE:ACCOGet Rating) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 291,486 shares of the industrial products company’s stock after selling 40,896 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.30% of ACCO Brands worth $2,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ACCO. North Star Investment Management Corp. grew its position in ACCO Brands by 0.5% during the first quarter. North Star Investment Management Corp. now owns 817,064 shares of the industrial products company’s stock valued at $6,537,000 after buying an additional 4,463 shares during the period. Easterly Investment Partners LLC grew its position in ACCO Brands by 3.6% during the fourth quarter. Easterly Investment Partners LLC now owns 582,634 shares of the industrial products company’s stock valued at $4,813,000 after buying an additional 19,980 shares during the period. Bank of America Corp DE grew its position in ACCO Brands by 15.5% during the fourth quarter. Bank of America Corp DE now owns 504,283 shares of the industrial products company’s stock valued at $4,165,000 after buying an additional 67,742 shares during the period. Assenagon Asset Management S.A. bought a new stake in ACCO Brands during the fourth quarter valued at approximately $2,393,000. Finally, Essex Investment Management Co. LLC grew its position in ACCO Brands by 37.3% during the fourth quarter. Essex Investment Management Co. LLC now owns 241,088 shares of the industrial products company’s stock valued at $1,991,000 after buying an additional 65,464 shares during the period. 85.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACCO has been the subject of several recent research reports. TheStreet lowered shares of ACCO Brands from a “b” rating to a “c+” rating in a research report on Wednesday, April 27th. StockNews.com lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Friday, April 29th.

ACCO Brands Stock Performance

ACCO opened at $7.15 on Thursday. The firm has a market cap of $693.45 million, a P/E ratio of 5.81, a PEG ratio of 0.39 and a beta of 1.84. ACCO Brands Co. has a 1-year low of $6.36 and a 1-year high of $9.76. The company has a 50 day simple moving average of $6.90 and a two-hundred day simple moving average of $7.60. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.68 and a quick ratio of 0.85.

ACCO Brands Profile

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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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.

Further Reading

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

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