Readystate Asset Management LP Grows Stock Position in ACCO Brands Co. (NYSE:ACCO)

Readystate Asset Management LP grew its position in ACCO Brands Co. (NYSE:ACCO) by 146.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 448,891 shares of the industrial products company’s stock after buying an additional 266,484 shares during the quarter. Readystate Asset Management LP’s holdings in ACCO Brands were worth $2,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of ACCO Brands by 1.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 114,975 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 1,679 shares during the last quarter. Barclays PLC increased its holdings in shares of ACCO Brands by 300.2% in the fourth quarter. Barclays PLC now owns 149,399 shares of the industrial products company’s stock valued at $909,000 after purchasing an additional 112,070 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ACCO Brands by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 9,225,671 shares of the industrial products company’s stock valued at $56,092,000 after purchasing an additional 218,454 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of ACCO Brands by 41.3% in the fourth quarter. Nuveen Asset Management LLC now owns 393,719 shares of the industrial products company’s stock valued at $2,394,000 after purchasing an additional 115,105 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of ACCO Brands by 29.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 836,371 shares of the industrial products company’s stock valued at $5,085,000 after purchasing an additional 190,021 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

ACCO Brands Trading Down 2.0 %

ACCO stock traded down $0.10 during midday trading on Wednesday, hitting $4.84. 729,826 shares of the company’s stock were exchanged, compared to its average volume of 682,806. The business has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $5.59. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $462.90 million, a PE ratio of -20.17, a P/E/G ratio of 0.39 and a beta of 1.64. ACCO Brands Co. has a 1-year low of $4.30 and a 1-year high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The company had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $476.37 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, sell-side analysts predict that ACCO Brands Co. will post 1.07 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.20%. ACCO Brands’s dividend payout ratio (DPR) is -125.00%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $7.50 price target on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com cut ACCO Brands from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

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.