ACCO Brands Co. (NYSE:ACCO) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP decreased its position in shares of ACCO Brands Co. (NYSE:ACCO) by 28.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,724 shares of the industrial products company’s stock after selling 32,743 shares during the quarter. ARGA Investment Management LP owned about 0.08% of ACCO Brands worth $453,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of ACCO Brands by 7.7% during the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock valued at $31,999,000 after purchasing an additional 396,588 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after purchasing an additional 68,416 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of ACCO Brands by 7.0% during the fourth quarter. North Star Investment Management Corp. now owns 860,511 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 55,923 shares in the last quarter. Capital Management Corp VA bought a new stake in shares of ACCO Brands during the fourth quarter valued at about $3,821,000. Finally, Readystate Asset Management LP raised its stake in shares of ACCO Brands by 146.1% during the fourth quarter. Readystate Asset Management LP now owns 448,891 shares of the industrial products company’s stock valued at $2,729,000 after purchasing an additional 266,484 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Price Performance

ACCO Brands stock traded up $0.04 during midday trading on Wednesday, hitting $4.63. The company’s stock had a trading volume of 83,894 shares, compared to its average volume of 667,076. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $4.95 and its 200-day moving average price is $5.51. ACCO Brands Co. has a 12 month low of $4.56 and a 12 month high of $6.62. The company has a market capitalization of $442.63 million, a PE ratio of -17.11, a price-to-earnings-growth ratio of 0.38 and a beta of 1.63.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $358.90 million for the quarter, compared to the consensus estimate of $371.80 million. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. Analysts anticipate that ACCO Brands Co. will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.30 annualized dividend and a yield of 6.48%. ACCO Brands’s payout ratio is presently -111.11%.

Insider Buying and Selling at ACCO Brands

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the transaction, the senior vice president now owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

Analysts Set New Price Targets

ACCO has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Barrington Research dropped their price target on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th.

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, 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.