Deerfield Management Company L.P. Series C Trims Stake in ACCO Brands Co. (NYSE:ACCO)

Deerfield Management Company L.P. Series C decreased its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 86.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,557 shares of the industrial products company’s stock after selling 89,348 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in ACCO Brands were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Burns Matteson Capital Management LLC purchased a new position in ACCO Brands during the 4th quarter worth $61,000. Xponance Inc. purchased a new stake in ACCO Brands in the fourth quarter worth about $65,000. Somerset Trust Co grew its holdings in ACCO Brands by 22.1% during the 4th quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 2,724 shares in the last quarter. Versor Investments LP purchased a new position in ACCO Brands during the 4th quarter valued at about $82,000. Finally, Syon Capital LLC purchased a new stake in shares of ACCO Brands in the 4th quarter worth approximately $83,000. 84.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ACCO has been the topic of a number of analyst reports. Barrington Research cut their price target on 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 lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Tuesday.

ACCO Brands Stock Down 0.6 %

NYSE:ACCO opened at $3.55 on Thursday. ACCO Brands Co. has a 1-year low of $3.41 and a 1-year high of $6.44. The firm has a market capitalization of $319.85 million, a P/E ratio of -3.35, a PEG ratio of 0.37 and a beta of 1.36. The company’s fifty day moving average price is $4.08 and its 200-day moving average price is $4.95. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The business had revenue of $317.40 million for the quarter, compared to the consensus estimate of $318.75 million. As a group, equities research analysts anticipate that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 23rd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend is Friday, May 23rd. ACCO Brands’s payout ratio is -26.55%.

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.