Acco Brands Corporation $ACCO Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS significantly increased its stake in Acco Brands Corporation by 419.9% during the 2nd quarter, acquiring a total of 91,500 shares worth approximately $328,000.
• Acco Brands has received mixed analyst ratings, with one firm upgrading it to a "buy" while another maintained a "sell (d+)" rating; the stock has an average target price of $6.00.
• The company recently announced a quarterly dividend of $0.075, yielding 7.9%, reflecting a solid commitment to returning value to shareholders.

KLP Kapitalforvaltning AS increased its stake in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 419.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,500 shares of the industrial products company's stock after acquiring an additional 73,900 shares during the period. KLP Kapitalforvaltning AS owned about 0.10% of Acco Brands worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACCO. Ballentine Partners LLC acquired a new stake in Acco Brands during the second quarter worth about $40,000. Kapitalo Investimentos Ltda acquired a new stake in Acco Brands during the second quarter worth about $55,000. Cambridge Investment Research Advisors Inc. grew its holdings in Acco Brands by 25.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company's stock worth $68,000 after acquiring an additional 3,276 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Acco Brands during the second quarter worth about $78,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Acco Brands by 218.4% during the second quarter. Public Employees Retirement System of Ohio now owns 25,541 shares of the industrial products company's stock worth $91,000 after acquiring an additional 17,519 shares during the period. 84.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen raised Acco Brands from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Weiss Ratings reissued a "sell (d+)" rating on shares of Acco Brands in a report on Wednesday, October 8th. Zacks Research raised Acco Brands from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Barrington Research reissued an "outperform" rating and issued a $6.00 price objective on shares of Acco Brands in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $6.00.

Acco Brands Stock Performance

NYSE ACCO opened at $3.82 on Monday. The company has a market cap of $344.30 million, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41. The stock's 50 day simple moving average is $3.97 and its 200-day simple moving average is $3.80. Acco Brands Corporation has a 1-year low of $3.32 and a 1-year high of $6.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.15.

Acco Brands (NYSE:ACCO - Get Free Report) last released its earnings results on Friday, March 15th. The industrial products company reported $0.32 earnings per share for the quarter. The business had revenue of $499.40 million for the quarter. Acco Brands had a return on equity of 13.60% and a net margin of 2.90%. As a group, equities research analysts anticipate that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.

Acco Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Friday, August 22nd. Acco Brands's dividend payout ratio (DPR) is 63.83%.

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.

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