Allspring Global Investments Holdings LLC Increases Holdings in ACCO Brands Co. (NYSE:ACCO)

Allspring Global Investments Holdings LLC raised its position in ACCO Brands Co. (NYSE:ACCO) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,120,891 shares of the industrial products company’s stock after buying an additional 97,086 shares during the period. Allspring Global Investments Holdings LLC owned approximately 6.59% of ACCO Brands worth $31,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in ACCO Brands by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock valued at $11,855,000 after buying an additional 53,490 shares during the last quarter. Foundry Partners LLC raised its stake in shares of ACCO Brands by 15.7% in the 3rd quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock valued at $4,189,000 after purchasing an additional 104,160 shares in the last quarter. Barclays PLC raised its stake in shares of ACCO Brands by 285.3% in the 3rd quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock valued at $810,000 after purchasing an additional 109,813 shares in the last quarter. Capital Management Corp VA raised its stake in shares of ACCO Brands by 14.3% in the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after purchasing an additional 439,810 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of ACCO Brands by 21.0% in the 3rd quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 12,508 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACCO. StockNews.com lowered shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Barrington Research upped their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

ACCO Brands Stock Performance

Shares of ACCO Brands stock opened at $5.38 on Friday. The firm has a market cap of $499.24 million, a PE ratio of -2.84, a price-to-earnings-growth ratio of 0.38 and a beta of 1.68. ACCO Brands Co. has a 1 year low of $4.36 and a 1 year high of $6.62. The firm’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $5.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60.

ACCO Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.58%. ACCO Brands’s dividend payout ratio (DPR) is -15.87%.

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.