Bank of New York Mellon Corp Trims Stake in ACCO Brands Co. (NYSE:ACCO)

Bank of New York Mellon Corp trimmed its holdings in ACCO Brands Co. (NYSE:ACCO - Free Report) by 27.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 946,692 shares of the industrial products company's stock after selling 349,905 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of ACCO Brands worth $4,970,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ACCO. DMC Group LLC raised its stake in ACCO Brands by 9.5% during the 4th quarter. DMC Group LLC now owns 28,783 shares of the industrial products company's stock worth $151,000 after acquiring an additional 2,496 shares during the period. Somerset Trust Co lifted its stake in shares of ACCO Brands by 22.1% during the 4th quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company's stock valued at $79,000 after buying an additional 2,724 shares in the last quarter. FMR LLC boosted its holdings in ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company's stock worth $32,000 after buying an additional 3,260 shares during the period. XTX Topco Ltd raised its holdings in ACCO Brands by 8.8% during the third quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company's stock valued at $322,000 after acquiring an additional 4,781 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of ACCO Brands by 2.7% in the third quarter. Stifel Financial Corp now owns 313,644 shares of the industrial products company's stock worth $1,716,000 after acquiring an additional 8,153 shares during the period. 84.56% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACCO. Barrington Research lowered their price target on ACCO Brands from $7.50 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. StockNews.com cut shares of ACCO Brands from a "buy" rating to a "hold" rating in a research note on Thursday.

ACCO Brands Price Performance

Shares of ACCO traded down $0.21 during mid-day trading on Friday, hitting $4.36. 1,059,340 shares of the stock were exchanged, compared to its average volume of 623,610. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The company has a market cap of $404.50 million, a PE ratio of -4.11, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. ACCO Brands Co. has a 52-week low of $4.30 and a 52-week high of $6.44. The firm has a 50-day moving average of $4.97 and a two-hundred day moving average of $5.30.

ACCO Brands (NYSE:ACCO - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The business had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. On average, equities analysts predict that ACCO Brands Co. will post 1.02 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.89%. ACCO Brands's payout ratio is currently -28.30%.

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.