ACCO Brands Co. (NYSE:ACCO) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its position in ACCO Brands Co. (NYSE:ACCO - Free Report) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 875,463 shares of the industrial products company's stock after purchasing an additional 152,495 shares during the quarter. Bank of America Corp DE owned approximately 0.94% of ACCO Brands worth $4,596,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have commented on ACCO. Wall Street Zen upgraded shares of ACCO Brands from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Barrington Research lowered their target price on shares of ACCO Brands from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Friday, May 23rd.

ACCO Brands Stock Performance

ACCO traded down $0.02 on Friday, reaching $3.57. The company had a trading volume of 2,456,609 shares, compared to its average volume of 708,047. 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 Co. has a 1 year low of $3.41 and a 1 year high of $6.44. The stock has a market capitalization of $321.65 million, a PE ratio of -3.37, a P/E/G ratio of 0.37 and a beta of 1.36. The stock has a 50-day moving average price of $3.79 and a 200-day moving average price of $4.76.

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

ACCO Brands Dividend Announcement

The company 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. This represents a $0.30 dividend on an annualized basis and a yield of 8.40%. 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.