ACCO Brands Co. (NYSE:ACCO) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of ACCO Brands Co. (NYSE:ACCO - Free Report) by 127.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,532,460 shares of the industrial products company's stock after purchasing an additional 859,787 shares during the period. Millennium Management LLC owned about 1.65% of ACCO Brands worth $8,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACCO. American Century Companies Inc. increased its holdings in ACCO Brands by 37.4% in the 4th quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company's stock worth $10,857,000 after acquiring an additional 562,985 shares during the last quarter. Alliancebernstein L.P. raised its position in ACCO Brands by 663.4% during the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company's stock valued at $2,154,000 after purchasing an additional 356,500 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of ACCO Brands by 135.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company's stock worth $3,029,000 after acquiring an additional 331,537 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in ACCO Brands by 205.2% in the fourth quarter. First Eagle Investment Management LLC now owns 490,525 shares of the industrial products company's stock worth $2,575,000 after purchasing an additional 329,822 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in ACCO Brands by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 811,629 shares of the industrial products company's stock worth $4,261,000 after purchasing an additional 293,506 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.

ACCO Brands Price Performance

Shares of NYSE:ACCO traded down $0.02 during mid-day trading on Friday, reaching $3.58. The stock had a trading volume of 81,078 shares, compared to its average volume of 819,246. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. ACCO Brands Co. has a 1 year low of $3.41 and a 1 year high of $6.43. The company has a market cap of $322.10 million, a P/E ratio of -3.37, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36. The business's 50 day moving average price is $3.81 and its 200 day moving average price is $4.77.

ACCO Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The business had revenue of $317.40 million for the quarter, compared to the consensus estimate of $318.75 million. Research analysts expect that ACCO Brands Co. 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, June 18th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 8.39%. ACCO Brands's dividend payout ratio is currently -26.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACCO shares. Barrington Research cut their price objective 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. Wall Street Zen raised ACCO Brands from a "hold" rating to a "buy" rating in a report 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.