Wipfli Financial Advisors LLC purchased a new position in ACCO Brands Co. (NYSE:ACCO – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,688 shares of the industrial products company’s stock, valued at approximately $28,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in ACCO Brands in the 2nd quarter worth $185,000. Royce & Associates LP boosted its stake in ACCO Brands by 23.4% during the 2nd quarter. Royce & Associates LP now owns 12,785 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 2,426 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in ACCO Brands by 60.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 176,807 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 66,947 shares during the last quarter. New York State Teachers Retirement System boosted its stake in ACCO Brands by 811.1% during the 2nd quarter. New York State Teachers Retirement System now owns 8,200 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Secure Asset Management LLC boosted its stake in ACCO Brands by 218.4% during the 2nd quarter. Secure Asset Management LLC now owns 55,501 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 38,069 shares during the last quarter. Hedge funds and other institutional investors own 80.65% of the company’s stock.
In other news, CEO Boris Elisman purchased 10,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were purchased at an average price of $5.17 per share, with a total value of $51,700.00. Following the transaction, the chief executive officer now owns 1,241,530 shares in the company, valued at approximately $6,418,710.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
ACCO Brands Stock Performance
ACCO Brands (NYSE:ACCO – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The industrial products company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $485.60 million for the quarter, compared to analysts’ expectations of $484.78 million. ACCO Brands had a net margin of 1.07% and a return on equity of 14.54%. Research analysts forecast that ACCO Brands Co. will post 1.06 earnings per share for the current fiscal year.
ACCO Brands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 25th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 23rd. This represents a $0.30 annualized dividend and a dividend yield of 5.01%. ACCO Brands’s payout ratio is 157.90%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on ACCO. Barrington Research lowered their target price on shares of ACCO Brands from $11.00 to $7.00 in a research note on Monday, October 17th. StockNews.com cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th.
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, 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.
- Get a free copy of the StockNews.com research report on ACCO Brands (ACCO)
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