Easterly Investment Partners LLC Sells 110,543 Shares of Acco Brands Corporation (NYSE:ACCO)

Easterly Investment Partners LLC cut its holdings in Acco Brands Corporation (NYSE:ACCO - Free Report) by 61.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,400 shares of the industrial products company's stock after selling 110,543 shares during the period. Easterly Investment Partners LLC owned 0.08% of Acco Brands worth $295,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in Acco Brands by 4.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,378,499 shares of the industrial products company's stock valued at $27,109,000 after acquiring an additional 257,608 shares during the period. Vanguard Group Inc. increased its stake in Acco Brands by 1.7% during 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 acquiring an additional 106,256 shares during the period. American Century Companies Inc. increased 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 acquiring an additional 562,985 shares during the period. Millennium Management LLC increased its stake in Acco Brands by 127.8% during the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company's stock valued at $8,045,000 after acquiring an additional 859,787 shares during the period. Finally, Prudential Financial Inc. increased 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 valued at $6,297,000 after acquiring an additional 44,130 shares during the period. 84.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACCO. Barrington Research lowered their price objective on Acco Brands from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen upgraded Acco Brands from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th.

Acco Brands Trading Down 1.1%

Shares of Acco Brands stock traded down $0.04 on Friday, hitting $3.75. 802,556 shares of the company's stock traded hands, compared to its average volume of 719,043. The firm's 50-day moving average price is $3.69 and its two-hundred day moving average price is $4.25. The stock has a market capitalization of $337.88 million, a PE ratio of -3.32, a price-to-earnings-growth ratio of 0.36 and a beta of 1.35. Acco Brands Corporation has a one year low of $3.32 and a one year high of $6.44. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.76 and a quick ratio of 1.02.

Acco Brands (NYSE:ACCO - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $317.40 million during the quarter, compared to analysts' expectations of $318.75 million. Acco Brands had a negative net margin of 6.68% and a positive return on equity of 15.48%. On average, research analysts expect that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.

Acco Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 23rd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend was Friday, May 23rd. Acco Brands's dividend payout ratio is -26.55%.

About Acco Brands

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.