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

Allspring Global Investments Holdings LLC lifted its position in ACCO Brands Co. (NYSE:ACCO) by 13.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,772,069 shares of the industrial products company’s stock after purchasing an additional 706,291 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of ACCO Brands worth $32,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ACCO. New York State Teachers Retirement System acquired a new position in shares of ACCO Brands in the 4th quarter valued at $50,000. Gladius Capital Management LP purchased a new position in ACCO Brands during the fourth quarter worth about $73,000. AXQ Capital LP increased its position in shares of ACCO Brands by 34.8% during the third quarter. AXQ Capital LP now owns 16,770 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 4,332 shares during the last quarter. DMC Group LLC raised its stake in shares of ACCO Brands by 13.8% in the 4th quarter. DMC Group LLC now owns 20,276 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 2,459 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of ACCO Brands in the 1st quarter worth approximately $135,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

ACCO Brands Stock Down 0.9 %

Shares of NYSE ACCO opened at $4.59 on Friday. The stock has a market cap of $438.80 million, a P/E ratio of -17.00, a PEG ratio of 0.37 and a beta of 1.62. The business’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.47. ACCO Brands Co. has a 12-month low of $4.56 and a 12-month high of $6.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The company had revenue of $358.90 million for the quarter, compared to analyst estimates of $371.80 million. During the same quarter last year, the company earned $0.09 EPS. ACCO Brands’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities analysts predict that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Thursday, May 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ACCO shares. Barrington Research cut their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, June 22nd.

Insider Buying and Selling at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.30% of the company’s stock.

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.