Bank of America Corp DE Purchases 152,495 Shares of ACCO Brands Co. (NYSE:ACCO)

Bank of America Corp DE increased its stake in shares of ACCO Brands Co. (NYSE:ACCO - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,463 shares of the industrial products company's stock after buying an additional 152,495 shares during the quarter. Bank of America Corp DE owned about 0.94% of ACCO Brands worth $4,596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in 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 buying an additional 562,985 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of ACCO Brands by 663.4% during the 4th quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company's stock worth $2,154,000 after purchasing an additional 356,500 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of ACCO Brands by 135.0% during the 4th 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 acquiring an additional 331,537 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of ACCO Brands by 205.2% during the 4th quarter. First Eagle Investment Management LLC now owns 490,525 shares of the industrial products company's stock valued at $2,575,000 after acquiring an additional 329,822 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of ACCO Brands by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 811,629 shares of the industrial products company's stock valued at $4,261,000 after acquiring an additional 293,506 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barrington Research reduced their price objective on ACCO Brands from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Wall Street Zen raised ACCO Brands from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th.

ACCO Brands Stock Performance

Shares of ACCO Brands stock traded down $0.11 on Monday, hitting $3.48. The stock had a trading volume of 678,799 shares, compared to its average volume of 705,821. ACCO Brands Co. has a twelve month low of $3.41 and a twelve month high of $6.44. The business's 50 day moving average is $3.78 and its two-hundred day moving average is $4.72. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The stock has a market cap of $313.54 million, a price-to-earnings ratio of -3.28, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36.

ACCO Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $317.40 million during the quarter, compared to analysts' expectations of $318.75 million. Analysts forecast that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 23rd will be issued 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 8.62%. ACCO Brands's dividend payout ratio (DPR) is presently -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.