Readystate Asset Management LP Cuts Holdings in ACCO Brands Co. (NYSE:ACCO)

Readystate Asset Management LP lessened its position in ACCO Brands Co. (NYSE:ACCO - Free Report) by 26.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,552 shares of the industrial products company's stock after selling 190,917 shares during the quarter. Readystate Asset Management LP owned 0.57% of ACCO Brands worth $2,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in shares of ACCO Brands by 21.0% in the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company's stock worth $394,000 after purchasing an additional 12,508 shares during the last quarter. FMR LLC grew its stake in shares of ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company's stock worth $32,000 after purchasing an additional 3,260 shares during the last quarter. Algert Global LLC lifted its holdings in shares of ACCO Brands by 7.4% during the third quarter. Algert Global LLC now owns 323,538 shares of the industrial products company's stock valued at $1,770,000 after purchasing an additional 22,308 shares during the last quarter. Foundry Partners LLC increased its position in shares of ACCO Brands by 15.7% during the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company's stock valued at $4,189,000 after acquiring an additional 104,160 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of ACCO Brands during the third quarter valued at approximately $98,000. 84.56% of the stock is owned by institutional investors.

ACCO Brands Price Performance

ACCO stock traded down $0.29 during trading on Thursday, reaching $6.01. The company's stock had a trading volume of 250,915 shares, compared to its average volume of 624,630. ACCO Brands Co. has a 1 year low of $4.36 and a 1 year high of $6.62. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The company's fifty day moving average is $5.51 and its 200-day moving average is $5.18.

ACCO Brands (NYSE:ACCO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 EPS 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 business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The business's revenue was down 6.0% on a year-over-year basis. Analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.99%. The ex-dividend date is Friday, November 15th. ACCO Brands's payout ratio is -15.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ACCO shares. Barrington Research lifted their target price 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. StockNews.com raised shares of ACCO Brands from a "hold" rating to a "buy" rating in a research report on Saturday, August 10th.

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.