Wedge Capital Management L L P NC Acquires 6,738 Shares of ACCO Brands Co. (NYSE:ACCO)

Wedge Capital Management L L P NC increased its holdings in ACCO Brands Co. (NYSE:ACCO) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,879 shares of the industrial products company’s stock after acquiring an additional 6,738 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of ACCO Brands worth $504,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings 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 valued at $31,999,000 after acquiring an additional 396,588 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ACCO Brands by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,353,607 shares of the industrial products company’s stock valued at $13,510,000 after acquiring an additional 147,196 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ACCO Brands by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 1,251,344 shares of the industrial products company’s stock valued at $7,183,000 after acquiring an additional 12,919 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of ACCO Brands by 110.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,187,604 shares of the industrial products company’s stock valued at $6,817,000 after acquiring an additional 622,830 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings 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 valued at $5,232,000 after acquiring an additional 55,923 shares in the last quarter. 84.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACCO has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $7.50 price objective on shares of ACCO Brands in a research note on Thursday, February 29th. StockNews.com downgraded ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

ACCO Brands Price Performance

ACCO Brands stock opened at $4.83 on Friday. ACCO Brands Co. has a 12 month low of $4.30 and a 12 month high of $6.62. 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 business’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.57. The company has a market cap of $461.94 million, a price-to-earnings ratio of -20.13, a PEG ratio of 0.38 and a beta of 1.64.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Friday, February 23rd. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. The business had revenue of $488.60 million for the quarter, compared to the consensus estimate of $476.37 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. ACCO Brands’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Sell-side analysts forecast that ACCO Brands Co. will post 1.07 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were given 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 dividend yield of 6.21%. ACCO Brands’s dividend payout ratio is currently -125.00%.

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.