Caxton Associates LP Reduces Holdings in ACCO Brands Co. (NYSE:ACCO)

Caxton Associates LP reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 28.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,785 shares of the industrial products company’s stock after selling 43,330 shares during the period. Caxton Associates LP owned about 0.11% of ACCO Brands worth $502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after purchasing an additional 706,291 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of ACCO Brands in the 1st quarter worth approximately $810,000. Nisa Investment Advisors LLC increased its stake in shares of ACCO Brands by 841.0% during the second quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock valued at $76,000 after buying an additional 14,507 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ACCO Brands by 96.7% during the first quarter. BNP Paribas Financial Markets now owns 134,397 shares of the industrial products company’s stock valued at $754,000 after buying an additional 66,070 shares during the period. Finally, LSV Asset Management lifted its stake in ACCO Brands by 0.7% in the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock worth $19,022,000 after acquiring an additional 24,900 shares during the period. Institutional investors own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

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

ACCO Brands Price Performance

Shares of ACCO stock opened at $5.41 on Friday. The business’s fifty day moving average is $5.16 and its 200 day moving average is $5.06. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The stock has a market cap of $517.20 million, a price-to-earnings ratio of -20.04, a PEG ratio of 0.42 and a beta of 1.62. ACCO Brands Co. has a twelve month low of $4.36 and a twelve month high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company 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%. ACCO Brands’s revenue was down 11.3% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Research analysts expect that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were paid a $0.075 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 5.55%. ACCO Brands’s payout ratio is currently -111.11%.

Insider Activity at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the sale, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.

About ACCO Brands

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.