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

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

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of ACCO Brands by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,369,804 shares of the industrial products company's stock valued at $33,441,000 after buying an additional 106,256 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in ACCO Brands by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company's stock valued at $31,767,000 after purchasing an additional 97,086 shares in the last quarter. Capital Management Corp VA lifted its stake in ACCO Brands by 1.3% during the fourth quarter. Capital Management Corp VA now owns 3,571,860 shares of the industrial products company's stock worth $18,752,000 after purchasing an additional 45,765 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ACCO Brands by 37.4% in the 4th quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company's stock worth $10,857,000 after purchasing an additional 562,985 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of ACCO Brands by 3.8% during the 4th quarter. Prudential Financial Inc. now owns 1,199,374 shares of the industrial products company's stock valued at $6,297,000 after purchasing an additional 44,130 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Trading Up 0.5 %

Shares of NYSE ACCO traded up $0.02 during midday trading on Friday, reaching $3.74. The company had a trading volume of 533,015 shares, compared to its average volume of 686,953. The stock has a market cap of $336.97 million, a PE ratio of -3.53, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36. ACCO Brands Co. has a one year low of $3.41 and a one year high of $6.44. The firm's fifty day moving average price is $4.05 and its 200-day moving average price is $4.93. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The firm had revenue of $317.40 million during the quarter, compared to the consensus estimate of $318.75 million. On average, equities research analysts anticipate that ACCO Brands Co. will post 1.02 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, June 18th. Shareholders of record on Friday, May 23rd will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Friday, May 23rd. ACCO Brands's dividend payout ratio (DPR) is presently -26.55%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ACCO shares. StockNews.com lowered ACCO Brands from a "buy" rating to a "hold" rating in a research note on Tuesday. Barrington Research cut their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th.

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.