HighTower Advisors LLC Purchases 12,508 Shares of ACCO Brands Co. (NYSE:ACCO)

HighTower Advisors LLC boosted its position in ACCO Brands Co. (NYSE:ACCO) by 21.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 72,042 shares of the industrial products company’s stock after buying an additional 12,508 shares during the period. HighTower Advisors LLC’s holdings in ACCO Brands were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundry Partners LLC lifted its holdings in shares of ACCO Brands by 15.7% during the 3rd quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock worth $4,189,000 after acquiring an additional 104,160 shares during the period. Bank of Montreal Can bought a new position in shares of ACCO Brands in the 2nd quarter valued at $4,588,000. Capital Management Corp VA raised its holdings in shares of ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after buying an additional 439,810 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of ACCO Brands by 116.1% in the second quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock worth $5,517,000 after acquiring an additional 630,663 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ACCO Brands in the 3rd quarter valued at approximately $86,000. 84.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ACCO shares. StockNews.com cut ACCO Brands from a “strong-buy” rating to a “buy” rating in a report on Friday. Barrington Research raised their target price on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

ACCO Brands Stock Down 2.4 %

ACCO Brands stock opened at $5.30 on Monday. The firm has a 50 day moving average price of $5.65 and a two-hundred day moving average price of $5.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62. The firm has a market cap of $492.27 million, a price-to-earnings ratio of -2.80, a PEG ratio of 0.48 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 5.66%. ACCO Brands’s dividend payout ratio is currently -15.87%.

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.