Point72 DIFC Ltd Sells 6,416 Shares of ACCO Brands Co. (NYSE:ACCO)

Point72 DIFC Ltd reduced its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 43.0% during the second quarter, HoldingsChannel reports. The firm owned 8,509 shares of the industrial products company’s stock after selling 6,416 shares during the period. Point72 DIFC Ltd’s holdings in ACCO Brands were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ACCO. Innealta Capital LLC bought a new stake in ACCO Brands in the 1st quarter worth approximately $65,000. Somerset Trust Co bought a new stake in shares of ACCO Brands in the second quarter worth $57,000. SG Americas Securities LLC bought a new position in ACCO Brands in the first quarter valued at about $71,000. Paloma Partners Management Co purchased a new position in ACCO Brands in the first quarter worth about $74,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of ACCO Brands during the 1st quarter valued at about $88,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACCO has been the topic of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Price Performance

NYSE ACCO opened at $5.26 on Friday. The business’s fifty day moving average is $5.19 and its 200 day 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. 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 company has a market capitalization of $502.86 million, a PE ratio of -19.48, a price-to-earnings-growth ratio of 0.42 and a beta of 1.62.

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

ACCO Brands Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.70%. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Insider Activity

In related news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.30% of the company’s stock.

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.