GSA Capital Partners LLP Raises 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 lifted its position in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 54.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 0.26% of Acco Brands worth $994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp increased its position in Acco Brands by 9.7% during the 1st quarter. Mackenzie Financial Corp now owns 160,524 shares of the industrial products company's stock valued at $673,000 after purchasing an additional 14,193 shares during the period. Cetera Investment Advisers boosted its stake in shares of Acco Brands by 40.8% during the 1st quarter. Cetera Investment Advisers now owns 62,726 shares of the industrial products company's stock valued at $263,000 after purchasing an additional 18,179 shares in the last quarter. Readystate Asset Management LP increased its position in shares of Acco Brands by 25.3% during the first quarter. Readystate Asset Management LP now owns 726,498 shares of the industrial products company's stock valued at $3,044,000 after buying an additional 146,600 shares during the period. Capital Management Corp VA raised its stake in Acco Brands by 27.5% in the first quarter. Capital Management Corp VA now owns 4,552,770 shares of the industrial products company's stock worth $19,076,000 after buying an additional 980,910 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Acco Brands in the first quarter worth about $543,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ACCO. Wall Street Zen upgraded Acco Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Barrington Research dropped their price target on Acco Brands from $7.00 to $6.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd.

Acco Brands Stock Down 8.3%

NYSE ACCO traded down $0.31 during trading hours on Friday, reaching $3.44. 1,464,041 shares of the company's stock traded hands, compared to its average volume of 508,905. Acco Brands Corporation has a 52-week low of $3.32 and a 52-week high of $6.43. 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 firm has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $4.16. The firm has a market cap of $309.94 million, a PE ratio of 7.32, a PEG ratio of 0.40 and a beta of 1.39.

Acco Brands (NYSE:ACCO - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.28 earnings per share 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 the consensus estimate of $389.81 million. Sell-side analysts anticipate that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.

Acco Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Friday, August 22nd. 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.