Allspring Global Investments Holdings LLC Has $32.95 Million Position in ACCO Brands Co. (NYSE:ACCO)

Allspring Global Investments Holdings LLC boosted its stake in shares of ACCO Brands Co. (NYSE:ACCO - Free Report) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,023,805 shares of the industrial products company's stock after purchasing an additional 272,454 shares during the quarter. Allspring Global Investments Holdings LLC owned about 6.30% of ACCO Brands worth $32,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. SpiderRock Advisors LLC purchased a new position in ACCO Brands during the first quarter valued at approximately $117,000. Prosperity Consulting Group LLC purchased a new stake in shares of ACCO Brands in the 1st quarter valued at $517,000. BNP Paribas Financial Markets increased its stake in ACCO Brands by 96.7% during the 1st quarter. BNP Paribas Financial Markets now owns 134,397 shares of the industrial products company's stock worth $754,000 after buying an additional 66,070 shares during the period. GSA Capital Partners LLP raised its position in ACCO Brands by 12.2% in the 1st quarter. GSA Capital Partners LLP now owns 159,258 shares of the industrial products company's stock valued at $893,000 after purchasing an additional 17,255 shares in the last quarter. Finally, LSV Asset Management lifted its stake in ACCO Brands by 0.7% in the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company's stock worth $19,022,000 after acquiring an additional 24,900 shares during the last quarter. Institutional investors own 84.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded ACCO Brands from a "hold" rating to a "buy" rating in a research report on Saturday, August 10th. Barrington Research restated an "outperform" rating and set a $7.00 price objective on shares of ACCO Brands in a research report on Wednesday, September 4th.

ACCO Brands Stock Performance

Shares of NYSE:ACCO remained flat at $4.87 during trading hours on Thursday. 446,724 shares of the company's stock traded hands, compared to its average volume of 617,912. The firm has a fifty day moving average price of $5.28 and a two-hundred day moving average price of $5.03. ACCO Brands Co. has a 12 month low of $4.36 and a 12 month high of $6.62. The firm has a market capitalization of $465.57 million, a price-to-earnings ratio of -18.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.62. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09.

ACCO Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The firm had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same quarter last year, the business posted $0.38 EPS. The company's revenue was down 11.3% on a year-over-year basis. As a group, research analysts anticipate that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.16%. ACCO Brands's dividend payout ratio (DPR) is currently -111.11%.

Insider Activity

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the transaction, the senior vice president now directly owns 243,899 shares of the company's stock, valued at approximately $1,334,127.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.30% of the stock is owned by company insiders.

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.