Allspring Global Investments Holdings LLC Boosts Stock Holdings in Acco Brands Corporation $ACCO

Allspring Global Investments Holdings LLC grew its position in shares of Acco Brands Corporation (NYSE:ACCO) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,288,508 shares of the industrial products company’s stock after acquiring an additional 910,009 shares during the quarter. Allspring Global Investments Holdings LLC owned 8.09% of Acco Brands worth $27,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its holdings in Acco Brands by 38.1% during the 2nd quarter. CWM LLC now owns 30,714 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 8,470 shares during the last quarter. Inspire Investing LLC boosted its holdings in Acco Brands by 31.1% during the 2nd quarter. Inspire Investing LLC now owns 108,231 shares of the industrial products company’s stock worth $387,000 after acquiring an additional 25,675 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Acco Brands by 419.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 91,500 shares of the industrial products company’s stock worth $328,000 after acquiring an additional 73,900 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Acco Brands by 218.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,541 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 17,519 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in Acco Brands during the 2nd quarter worth $40,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACCO has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Acco Brands in a report on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and issued a $6.00 price target on shares of Acco Brands in a report on Thursday, August 14th. Zacks Research raised shares of Acco Brands from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, Wall Street Zen raised shares of Acco Brands from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Acco Brands presently has a consensus rating of “Hold” and an average price target of $6.00.

Acco Brands Price Performance

NYSE ACCO opened at $3.82 on Thursday. The company has a market cap of $343.86 million, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41. Acco Brands Corporation has a 52 week low of $3.32 and a 52 week high of $6.43. The company has a quick ratio of 1.15, a current ratio of 1.85 and a debt-to-equity ratio of 1.48. The firm’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $3.81.

Acco Brands (NYSE:ACCO) last released its quarterly earnings data on Friday, March 15th. The industrial products company reported $0.32 EPS for the quarter. The business had revenue of $499.40 million for the quarter. Acco Brands had a net margin of 2.90% and a return on equity of 13.60%. Research analysts predict that Acco Brands Corporation will post 1.02 earnings per share for the current year.

Acco Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.30 annualized dividend and a yield of 7.9%. Acco Brands’s dividend payout ratio is 63.83%.

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.