GSA Capital Partners LLP Boosts Stock Position in Acco Brands Corporation (NYSE:ACCO)

Key Points

• GSA Capital Partners LLP increased its stake in Acco Brands Corporation by 54.5% during the 1st quarter, bringing its total ownership to approximately 0.26% of the company, valued at $994,000.
• Acco Brands recently announced a quarterly dividend of $0.075 per share, which translates to an 8.0% yield, with the ex-dividend date set for August 22.
• The company reported an EPS of $0.28 for the last quarter, missing projections, while revenue exceeded estimates at $394.80 million.

GSA Capital Partners LLP grew its stake in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 54.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 237,248 shares of the industrial products company's stock after purchasing an additional 83,706 shares during the period. GSA Capital Partners LLP owned about 0.26% of Acco Brands worth $994,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Acco Brands by 25.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company's stock valued at $68,000 after buying an additional 3,276 shares during the period. Diversified Trust Co boosted its stake in Acco Brands by 18.4% during the first quarter. Diversified Trust Co now owns 30,058 shares of the industrial products company's stock valued at $126,000 after buying an additional 4,669 shares during the period. Nebula Research & Development LLC boosted its stake in Acco Brands by 8.6% during the fourth quarter. Nebula Research & Development LLC now owns 59,572 shares of the industrial products company's stock valued at $313,000 after buying an additional 4,732 shares during the period. EP Wealth Advisors LLC boosted its stake in Acco Brands by 44.1% during the fourth quarter. EP Wealth Advisors LLC now owns 16,188 shares of the industrial products company's stock valued at $85,000 after buying an additional 4,958 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Acco Brands by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 933,820 shares of the industrial products company's stock worth $4,903,000 after purchasing an additional 5,400 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Acco Brands Trading Up 3.1%

NYSE:ACCO traded up $0.11 during mid-day trading on Monday, reaching $3.55. 180,028 shares of the company's stock traded hands, compared to its average volume of 800,797. Acco Brands Corporation has a 12-month low of $3.32 and a 12-month high of $6.43. The firm has a market capitalization of $319.40 million, a price-to-earnings ratio of 7.54, a PEG ratio of 0.41 and a beta of 1.39. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.76 and a quick ratio of 1.02. The company has a 50 day moving average price of $3.70 and a 200-day moving average price of $4.15.

Acco Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. On average, sell-side analysts predict that Acco Brands Corporation will post 1.02 earnings per share for the current year.

Acco Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a $0.075 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.30 annualized dividend and a dividend yield of 8.5%. Acco Brands's dividend payout ratio is presently 63.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ACCO. Barrington Research lowered their target price on Acco Brands from $7.00 to $6.00 and set an "outperform" rating for the company in a research note 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.

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.