Federated Hermes Inc. Trims Stock Position in ACCO Brands Co. (NYSE:ACCO)

Federated Hermes Inc. reduced its position in shares of ACCO Brands Co. (NYSE:ACCO) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,625 shares of the industrial products company’s stock after selling 3,317 shares during the quarter. Federated Hermes Inc. owned about 0.12% of ACCO Brands worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new position in ACCO Brands in the first quarter worth approximately $65,000. Somerset Trust Co bought a new stake in ACCO Brands during the second quarter valued at about $57,000. SG Americas Securities LLC purchased a new position in ACCO Brands in the first quarter valued at about $71,000. Paloma Partners Management Co bought a new position in ACCO Brands in the first quarter worth about $74,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of ACCO Brands during the first quarter valued at about $88,000. 84.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ACCO Brands Price Performance

Shares of ACCO stock opened at $5.29 on Tuesday. The firm has a market capitalization of $505.72 million, a price-to-earnings ratio of -19.59, a PEG ratio of 0.41 and a beta of 1.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock’s 50-day simple moving average is $5.12 and its 200-day simple moving average is $5.06. ACCO Brands Co. has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $438.30 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that ACCO Brands Co. will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is -111.11%.

Insider Activity at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is owned by insiders.

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.