ExodusPoint Capital Management LP Takes Position in ACCO Brands Co. (NYSE:ACCO)

ExodusPoint Capital Management LP acquired a new position in shares of ACCO Brands Co. (NYSE:ACCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 116,268 shares of the industrial products company’s stock, valued at approximately $610,000. ExodusPoint Capital Management LP owned approximately 0.13% of ACCO Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in ACCO Brands by 2.5% in the third 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 in the last quarter. Barclays PLC increased its holdings 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 acquiring an additional 109,813 shares during the last quarter. HighTower Advisors LLC raised its position in shares of ACCO Brands by 21.0% during the 3rd quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 12,508 shares in the last quarter. FMR LLC lifted its stake in ACCO Brands by 123.0% during the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 3,260 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ACCO Brands by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company’s stock valued at $31,767,000 after purchasing an additional 97,086 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Stock Up 0.7 %

ACCO Brands stock opened at $3.66 on Friday. The company has a market capitalization of $329.31 million, a P/E ratio of -3.45, a PEG ratio of 0.37 and a beta of 1.60. 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 Co. has a fifty-two week low of $3.47 and a fifty-two week high of $6.44. The stock has a 50-day simple moving average of $4.55 and a 200-day simple moving average of $5.14.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $448.10 million during the quarter, compared to analysts’ expectations of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. Equities research analysts expect that ACCO Brands Co. will post 1.02 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 8.21%. ACCO Brands’s payout ratio is currently -28.30%.

Analysts Set New Price Targets

ACCO has been the topic of a number of research analyst reports. Barrington Research cut their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Friday, March 28th.

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.