Charles Schwab Investment Management Inc. Cuts Stock Position in ACCO Brands Co. (NYSE:ACCO)

Charles Schwab Investment Management Inc. lowered its holdings in shares of ACCO Brands Co. (NYSE:ACCO - Free Report) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,659,575 shares of the industrial products company's stock after selling 410,028 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.79% of ACCO Brands worth $9,078,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC increased its stake in ACCO Brands by 68.3% during the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company's stock worth $38,000 after buying an additional 2,800 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in ACCO Brands by 841.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 14,507 shares during the last quarter. Royce & Associates LP purchased a new position in ACCO Brands in the 3rd quarter valued at $80,000. Wealth Enhancement Advisory Services LLC acquired a new stake in ACCO Brands during the 3rd quarter worth $86,000. Finally, Evergreen Capital Management LLC grew its holdings in shares of ACCO Brands by 80.8% during the second quarter. Evergreen Capital Management LLC now owns 18,607 shares of the industrial products company's stock worth $87,000 after buying an additional 8,317 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barrington Research boosted their price target on shares of 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 Trading Down 3.1 %

NYSE ACCO traded down $0.19 on Wednesday, reaching $6.00. 1,375,625 shares of the company were exchanged, compared to its average volume of 628,889. 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 market capitalization of $557.28 million, a P/E ratio of -3.28, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67. The business's fifty day moving average price is $5.57 and its 200 day moving average price is $5.21. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The firm had revenue of $420.90 million for the quarter, compared to analysts' expectations of $418.20 million. During the same quarter in the previous year, the company posted $0.24 EPS. The company's revenue was down 6.0% compared to the same quarter last year. Analysts forecast 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 will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Friday, November 15th. ACCO Brands's payout ratio is presently -15.87%.

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.