Assenagon Asset Management S.A. trimmed its holdings in shares of Acco Brands Corporation (NYSE:ACCO – Free Report) by 59.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 193,179 shares of the industrial products company’s stock after selling 281,971 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Acco Brands were worth $580,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Acco Brands by 2.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,649,602 shares of the industrial products company’s stock valued at $28,227,000 after acquiring an additional 186,110 shares in the last quarter. Vanguard Group Inc. boosted its stake in Acco Brands by 1.8% during the third quarter. Vanguard Group Inc. now owns 6,237,515 shares of the industrial products company’s stock worth $24,888,000 after acquiring an additional 107,480 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Acco Brands by 27.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,148,160 shares of the industrial products company’s stock worth $11,743,000 after acquiring an additional 682,260 shares in the last quarter. Geode Capital Management LLC grew its holdings in Acco Brands by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,171,280 shares of the industrial products company’s stock worth $8,101,000 after purchasing an additional 15,545 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Acco Brands by 17.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,654,306 shares of the industrial products company’s stock worth $6,171,000 after purchasing an additional 240,878 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.
Acco Brands Price Performance
Shares of ACCO opened at $4.17 on Friday. The business’s fifty day moving average is $3.86 and its 200 day moving average is $3.73. Acco Brands Corporation has a 12-month low of $2.81 and a 12-month high of $4.36. The company has a quick ratio of 0.98, a current ratio of 1.77 and a debt-to-equity ratio of 1.25. The stock has a market cap of $385.19 million, a P/E ratio of 5.35, a P/E/G ratio of 0.83 and a beta of 1.21.
Acco Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.30 annualized dividend and a dividend yield of 7.2%. Acco Brands’s payout ratio is presently 38.46%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Acco Brands in a research note on Monday, May 4th. Wall Street Zen raised shares of Acco Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Acco Brands in a research note on Wednesday, June 17th. Finally, Zacks Research raised Acco Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.
Check Out Our Latest Analysis on ACCO
Insider Buying and Selling at Acco Brands
In related news, SVP Angela Y. Jones sold 57,217 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.02, for a total value of $230,012.34. Following the sale, the senior vice president owned 18,580 shares in the company, valued at $74,691.60. This represents a 75.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.30% of the stock is owned by corporate insiders.
About Acco Brands
Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.
The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.
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