Connor Clark & Lunn Investment Management Ltd. cut its stake in Acco Brands Corporation (NYSE:ACCO - Free Report) by 30.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,659 shares of the industrial products company's stock after selling 102,080 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Acco Brands worth $979,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Acco Brands by 25.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company's stock worth $68,000 after purchasing an additional 3,276 shares during the last quarter. Syon Capital LLC acquired a new stake in shares of Acco Brands during the 4th quarter worth about $83,000. EP Wealth Advisors LLC increased its position in shares of Acco Brands by 44.1% during the 4th quarter. EP Wealth Advisors LLC now owns 16,188 shares of the industrial products company's stock worth $85,000 after purchasing an additional 4,958 shares during the last quarter. Quarry LP increased its position in shares of Acco Brands by 34.1% during the 4th quarter. Quarry LP now owns 22,226 shares of the industrial products company's stock worth $117,000 after purchasing an additional 5,653 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Acco Brands by 18.4% during the 1st quarter. Diversified Trust Co now owns 30,058 shares of the industrial products company's stock worth $126,000 after purchasing an additional 4,669 shares during the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ACCO has been the subject of several research reports. Wall Street Zen raised Acco Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Zacks Research raised Acco Brands from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $6.00 target price on shares of Acco Brands in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Acco Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.00.
Check Out Our Latest Report on ACCO
Acco Brands Stock Up 4.5%
Shares of Acco Brands stock traded up $0.1750 on Friday, reaching $4.0250. 215,466 shares of the company were exchanged, compared to its average volume of 780,662. Acco Brands Corporation has a 1-year low of $3.32 and a 1-year high of $6.43. The company has a market cap of $362.79 million, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.15. The stock's 50 day moving average price is $3.73 and its 200-day moving average price is $4.02.
Acco Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Acco Brands had a return on equity of 13.60% and a net margin of 2.90%.The company had revenue of $394.80 million for the quarter, compared to analyst estimates of $389.81 million. Acco Brands has set its FY 2025 guidance at 0.830-0.900 EPS. Q3 2025 guidance at 0.210-0.240 EPS. As a group, equities analysts forecast that Acco Brands Corporation will post 1.02 EPS for the current year.
Acco Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.30 annualized dividend and a yield of 7.5%. Acco Brands's payout ratio is presently 63.83%.
About Acco Brands
(
Free Report)
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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