Prosperity Consulting Group LLC Purchases New Position in ACCO Brands Co. (NYSE:ACCO)

Prosperity Consulting Group LLC purchased a new stake in shares of ACCO Brands Co. (NYSE:ACCO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 92,228 shares of the industrial products company’s stock, valued at approximately $517,000. Prosperity Consulting Group LLC owned about 0.10% of ACCO Brands as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after acquiring an additional 706,291 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of ACCO Brands by 7.7% in the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock worth $31,999,000 after acquiring an additional 396,588 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ACCO Brands by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after acquiring an additional 68,416 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of ACCO Brands by 7.0% in the fourth quarter. North Star Investment Management Corp. now owns 860,511 shares of the industrial products company’s stock worth $5,232,000 after acquiring an additional 55,923 shares during the last quarter. Finally, Capital Management Corp VA bought a new position in shares of ACCO Brands in the fourth quarter worth about $3,821,000. 84.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACCO. Barrington Research dropped their price target on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, June 22nd.

Insider Activity at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the transaction, the senior vice president now owns 18,621 shares in the company, valued at $92,360.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.30% of the company’s stock.

ACCO Brands Trading Down 2.4 %

Shares of ACCO traded down $0.11 on Friday, reaching $4.48. 936,633 shares of the company’s stock were exchanged, compared to its average volume of 662,315. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $428.29 million, a P/E ratio of -16.59, a price-to-earnings-growth ratio of 0.37 and a beta of 1.62. The business has a 50 day moving average price of $4.90 and a two-hundred day moving average price of $5.46. ACCO Brands Co. has a 12 month low of $4.47 and a 12 month high of $6.62.

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

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 17th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date was Thursday, May 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

ACCO Brands Company 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.