Schwab Charles Investment Management Inc. grew its position in ACCO Brands Co. (NYSE:ACCO) by 11.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,144,677 shares of the industrial products company’s stock after buying an additional 113,907 shares during the period. Schwab Charles Investment Management Inc. owned approximately 1.07% of ACCO Brands worth $15,854,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of ACCO Brands by 15.0% in the first quarter. Wells Fargo & Company MN now owns 3,995,400 shares of the industrial products company’s stock worth $50,144,000 after acquiring an additional 520,381 shares during the period. Ancora Advisors LLC grew its stake in shares of ACCO Brands by 79.8% in the first quarter. Ancora Advisors LLC now owns 1,065,223 shares of the industrial products company’s stock worth $13,368,000 after acquiring an additional 472,704 shares during the period. Millennium Management LLC grew its stake in shares of ACCO Brands by 16.6% in the first quarter. Millennium Management LLC now owns 2,454,991 shares of the industrial products company’s stock worth $30,810,000 after acquiring an additional 350,240 shares during the period. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of ACCO Brands in the second quarter worth approximately $3,017,000. Finally, Russell Investments Group Ltd. grew its stake in shares of ACCO Brands by 15.6% in the first quarter. Russell Investments Group Ltd. now owns 1,573,507 shares of the industrial products company’s stock worth $19,747,000 after acquiring an additional 212,130 shares during the period. 89.54% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ACCO opened at $12.15 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.74 and a quick ratio of 1.15. The company has a market cap of $1.29 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. ACCO Brands Co. has a 12-month low of $10.90 and a 12-month high of $14.63.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Friday, August 31st will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.24 annualized dividend and a yield of 1.98%. ACCO Brands’s dividend payout ratio (DPR) is 20.17%.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. ValuEngine upgraded shares of ACCO Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Noble Financial reiterated a “buy” rating and issued a $15.00 price target on shares of ACCO Brands in a research note on Monday, August 6th. Finally, Barrington Research reiterated a “buy” rating and issued a $16.00 price target on shares of ACCO Brands in a research note on Thursday, June 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.40.
In related news, SVP Gregory J. Mccormack sold 15,678 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the completion of the sale, the senior vice president now directly owns 81,079 shares in the company, valued at $1,007,001.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.50% of the company’s stock.
ACCO Brands Profile
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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