Envestnet Asset Management Inc. Raises Stake in Acco Brands Corporation (NYSE:ACCO)

Key Points

• Envestnet Asset Management Inc. increased its stake in Acco Brands Corporation by 29.9%, owning approximately 0.49% of the company's stock, now valued at $1.86 million.
• Acco Brands announced a quarterly dividend of $0.075 per share, equating to a 7.94% dividend yield, with the payment set for September 10th.
• Analysts have recently revised their price targets, with Barrington Research lowering it from $7.00 to $6.00 but maintaining an "outperform" rating, while Wall Street Zen upgraded it from "hold" to "buy".

Envestnet Asset Management Inc. increased its holdings in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 29.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,737 shares of the industrial products company's stock after purchasing an additional 102,213 shares during the period. Envestnet Asset Management Inc. owned 0.49% of Acco Brands worth $1,859,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ACCO. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Acco Brands by 25.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 3,276 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Acco Brands in the 4th quarter valued at about $83,000. EP Wealth Advisors LLC increased its holdings in shares of Acco Brands by 44.1% in the 4th quarter. EP Wealth Advisors LLC now owns 16,188 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 4,958 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Acco Brands in the 4th quarter valued at about $92,000. Finally, Quarry LP increased its holdings in shares of Acco Brands by 34.1% in the 4th quarter. Quarry LP now owns 22,226 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 5,653 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACCO. Barrington Research cut their price target 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. Wall Street Zen upgraded shares of Acco Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th.

Acco Brands Price Performance

NYSE:ACCO traded down $0.31 during mid-day trading on Friday, hitting $3.44. 1,464,041 shares of the company's stock traded hands, compared to its average volume of 508,905. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.02 and a current ratio of 1.76. The firm's 50 day simple moving average is $3.70 and its 200 day simple moving average is $4.16. 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 $309.94 million, a PE ratio of 7.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.39.

Acco Brands (NYSE:ACCO - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Acco Brands had a net margin of 2.90% and a return on equity of 13.76%. The business had revenue of $394.80 million for the quarter, compared to analysts' expectations of $389.81 million. Sell-side analysts expect that Acco Brands Corporation will post 1.02 EPS for the current year.

Acco Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 8.7%. Acco Brands's payout ratio is -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.