Wellington Management Group LLP Trims Position in ACCO Brands Co. (NYSE:ACCO)

Wellington Management Group LLP reduced its stake in ACCO Brands Co. (NYSE:ACCO - Free Report) by 54.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,166,938 shares of the industrial products company's stock after selling 2,609,778 shares during the period. Wellington Management Group LLP owned about 2.33% of ACCO Brands worth $11,376,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ACCO. Millennium Management LLC grew its position in shares of ACCO Brands by 127.8% in the 4th quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company's stock worth $8,045,000 after buying an additional 859,787 shares during the last quarter. American Century Companies Inc. boosted its position in shares of ACCO Brands by 37.4% during the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company's stock valued at $10,857,000 after purchasing an additional 562,985 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of ACCO Brands by 663.4% during the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company's stock valued at $2,154,000 after purchasing an additional 356,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of ACCO Brands during the fourth quarter valued at approximately $1,764,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of ACCO Brands by 135.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company's stock valued at $3,029,000 after purchasing an additional 331,537 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barrington Research dropped their target price on ACCO Brands from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Wall Street Zen raised ACCO Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th.

ACCO Brands Stock Up 1.2%

ACCO Brands stock traded up $0.05 during mid-day trading on Friday, hitting $3.75. The company had a trading volume of 502,596 shares, compared to its average volume of 705,680. ACCO Brands Co. has a 12 month low of $3.41 and a 12 month high of $6.44. The stock's 50 day moving average price is $3.72 and its two-hundred day moving average price is $4.68. 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 has a market capitalization of $337.42 million, a PE ratio of -3.53, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36.

ACCO Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, topping 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 analysts' expectations of $318.75 million. As a group, sell-side analysts anticipate that ACCO Brands Co. will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 23rd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 8.01%. The ex-dividend date is Friday, May 23rd. ACCO Brands's dividend payout ratio is currently -26.55%.

ACCO Brands 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.