LSV Asset Management Acquires 151,300 Shares of Acco Brands Corporation (NYSE:ACCO)

Key Points

• LSV Asset Management increased its stake in Acco Brands Corporation by 4.9%, owning approximately 3.60% of the company, valued at $13.59 million.
• Acco Brands recently reported earnings per share of $0.28, slightly missing the consensus estimate of $0.29, while quarterly revenue totaled $394.80 million.
• The company declared a quarterly dividend of $0.075 per share with a significant dividend yield of 8.5%, highlighting strong returns for shareholders.

LSV Asset Management raised its stake in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,243,500 shares of the industrial products company's stock after buying an additional 151,300 shares during the quarter. LSV Asset Management owned about 3.60% of Acco Brands worth $13,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ACCO. Cambridge Investment Research Advisors Inc. lifted its stake in 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 acquiring an additional 3,276 shares in the last quarter. Syon Capital LLC bought a new stake in Acco Brands in the 4th quarter valued at approximately $83,000. EP Wealth Advisors LLC lifted its stake in 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 acquiring an additional 4,958 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Acco Brands in the 4th quarter valued at approximately $92,000. Finally, Quarry LP lifted its stake in 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 acquiring an additional 5,653 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACCO shares. Barrington Research cut their target price 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 Stock Up 1.3%

Shares of Acco Brands stock traded up $0.05 on Friday, reaching $3.63. 304,479 shares of the company were exchanged, compared to its average volume of 796,664. Acco Brands Corporation has a one year low of $3.32 and a one year high of $6.43. The company has a market capitalization of $326.72 million, a price-to-earnings ratio of 7.71, a PEG ratio of 0.42 and a beta of 1.39. The company has a current ratio of 1.85, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average of $3.70 and a 200 day moving average of $4.12.

Acco Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $389.81 million. On average, equities research analysts forecast that Acco Brands Corporation will post 1.02 earnings per share for the current year.

Acco Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.3%. Acco Brands's dividend payout ratio is currently 63.83%.

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.