Foundry Partners LLC Trims Stake in ACCO Brands Co. (NYSE:ACCO)

Foundry Partners LLC lowered its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 661,691 shares of the industrial products company’s stock after selling 8,598 shares during the period. Foundry Partners LLC’s holdings in ACCO Brands were worth $3,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in ACCO Brands by 29.5% during the fourth quarter. Victory Capital Management Inc. now owns 262,070 shares of the industrial products company’s stock worth $1,593,000 after acquiring an additional 59,693 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after acquiring an additional 68,416 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in ACCO Brands by 146.1% during the fourth quarter. Teacher Retirement System of Texas now owns 148,010 shares of the industrial products company’s stock worth $900,000 after acquiring an additional 87,871 shares in the last quarter. ARGA Investment Management LP boosted its stake in ACCO Brands by 246.5% during the fourth quarter. ARGA Investment Management LP now owns 113,467 shares of the industrial products company’s stock worth $690,000 after acquiring an additional 80,724 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in ACCO Brands by 45.8% during the fourth quarter. Aigen Investment Management LP now owns 64,739 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 20,350 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACCO shares. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday.

Insider Transactions at ACCO Brands

In related news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the transaction, the senior vice president now owns 243,899 shares in the company, valued at $1,334,127.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

ACCO Brands Trading Down 2.3 %

Shares of NYSE ACCO opened at $5.20 on Friday. The firm’s 50 day moving average price is $4.97 and its 200-day moving average price is $5.10. The company has a market cap of $496.64 million, a PE ratio of -19.24, a P/E/G ratio of 0.44 and a beta of 1.62. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $438.30 million for the quarter, compared to the consensus estimate of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The business’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts expect that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 5.77%. ACCO Brands’s dividend payout ratio is presently -111.11%.

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.