ACCO Brands Co. (NYSE:ACCO) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in ACCO Brands Co. (NYSE:ACCO) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,166,912 shares of the industrial products company’s stock after acquiring an additional 53,490 shares during the quarter. Geode Capital Management LLC’s holdings in ACCO Brands were worth $11,855,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its position in ACCO Brands by 285.3% during the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 109,813 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in ACCO Brands in the 3rd quarter worth approximately $63,000. XTX Topco Ltd boosted its holdings in shares of ACCO Brands by 8.8% during the 3rd quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 4,781 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of ACCO Brands in the third quarter valued at approximately $61,000. Finally, Wellington Management Group LLP increased its holdings in shares of ACCO Brands by 1.7% in the third quarter. Wellington Management Group LLP now owns 4,776,716 shares of the industrial products company’s stock valued at $26,129,000 after purchasing an additional 81,990 shares during the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Trading Up 0.2 %

Shares of ACCO Brands stock opened at $5.25 on Wednesday. ACCO Brands Co. has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The stock has a 50 day moving average of $5.66 and a 200 day moving average of $5.26. The firm has a market capitalization of $487.63 million, a price-to-earnings ratio of -2.78, a PEG ratio of 0.48 and a beta of 1.67. 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 (NYSE:ACCO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The business had revenue of $420.90 million for the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. As a group, research analysts predict that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were given a dividend of $0.075 per share. The ex-dividend date was Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 5.71%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ACCO shares. StockNews.com lowered ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Barrington Research boosted their price target on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

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.