Victory Capital Management Inc. Increases Stake in ACCO Brands Co. (NYSE:ACCO)

Victory Capital Management Inc. boosted its position in shares of ACCO Brands Co. (NYSE:ACCO) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 268,093 shares of the industrial products company’s stock after purchasing an additional 26,493 shares during the quarter. Victory Capital Management Inc. owned about 0.28% of ACCO Brands worth $1,260,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in ACCO Brands by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares during the last quarter. LSV Asset Management grew its position in ACCO Brands by 0.7% during the 1st quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock valued at $19,022,000 after purchasing an additional 24,900 shares during the last quarter. Capital Management Corp VA grew its position in ACCO Brands by 286.7% during the 1st quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after purchasing an additional 1,802,250 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ACCO Brands by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after purchasing an additional 68,416 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in ACCO Brands by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock valued at $6,109,000 after purchasing an additional 76,840 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Barrington Research restated an “outperform” rating and set a $7.00 target price on shares of ACCO Brands in a research note on Wednesday, September 4th.

Insider Transactions at ACCO Brands

In other 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 value of $104,838.02. Following the transaction, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.30% of the company’s stock.

ACCO Brands Price Performance

ACCO opened at $5.46 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock has a market capitalization of $521.50 million, a P/E ratio of -19.93, a P/E/G ratio of 0.41 and a beta of 1.62. The company’s 50-day simple moving average is $5.08 and its two-hundred day simple moving average is $5.06. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62.

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

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.50%. The ex-dividend date was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) 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.