Deerfield Management Company L.P. Series C Lowers Holdings in ACCO Brands Co. (NYSE:ACCO)

Deerfield Management Company L.P. Series C lessened its holdings in ACCO Brands Co. (NYSE:ACCO - Free Report) by 86.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,557 shares of the industrial products company's stock after selling 89,348 shares during the period. Deerfield Management Company L.P. Series C's holdings in ACCO Brands were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Burns Matteson Capital Management LLC purchased a new position in shares of ACCO Brands during the 4th quarter valued at $61,000. Xponance Inc. bought a new stake in ACCO Brands in the 4th quarter worth $65,000. Somerset Trust Co boosted its holdings in ACCO Brands by 22.1% in the fourth quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 2,724 shares in the last quarter. Versor Investments LP purchased a new stake in ACCO Brands in the fourth quarter worth about $82,000. Finally, Syon Capital LLC purchased a new stake in shares of ACCO Brands in the 4th quarter worth about $83,000. Institutional investors and hedge funds own 84.56% of the company's stock.

ACCO Brands Stock Performance

Shares of ACCO Brands stock traded up $0.04 on Tuesday, hitting $3.92. 246,622 shares of the company's stock were exchanged, compared to its average volume of 685,538. ACCO Brands Co. has a 1 year low of $3.41 and a 1 year high of $6.44. The company has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $4.93. The stock has a market capitalization of $353.19 million, a PE ratio of -3.70, a PEG ratio of 0.37 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60.

ACCO Brands (NYSE:ACCO - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The firm had revenue of $317.40 million during the quarter, compared to analyst estimates of $318.75 million. As a group, equities analysts anticipate that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, May 23rd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 7.65%. ACCO Brands's payout ratio is currently -26.55%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACCO. StockNews.com downgraded shares of ACCO Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. 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.

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.