Acco Brands Corporation (NYSE:ACCO) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP increased its holdings in shares of Acco Brands Corporation (NYSE:ACCO - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 726,498 shares of the industrial products company's stock after acquiring an additional 146,600 shares during the period. Readystate Asset Management LP owned about 0.81% of Acco Brands worth $3,044,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ACCO. Capital Management Corp VA boosted its holdings in shares of 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 valued at $19,076,000 after buying an additional 980,910 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Acco Brands in the 1st quarter worth approximately $543,000. Nisa Investment Advisors LLC increased its stake in shares of Acco Brands by 273.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 61,543 shares of the industrial products company's stock valued at $258,000 after acquiring an additional 45,057 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Acco Brands by 29.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 443,737 shares of the industrial products company's stock valued at $1,859,000 after purchasing an additional 102,213 shares in the last quarter. Finally, Saxon Interests Inc. purchased a new position in Acco Brands during the 1st quarter worth $132,000. 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 the stock. Wall Street Zen raised shares of Acco Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Barrington Research reduced their price target on shares of 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 Performance

NYSE ACCO traded up $0.07 during trading hours on Friday, hitting $4.00. The company's stock had a trading volume of 197,356 shares, compared to its average volume of 807,666. The company's 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.23. The company has a market cap of $359.95 million, a P/E ratio of -3.54, a price-to-earnings-growth ratio of 0.39 and a beta of 1.35. Acco Brands Corporation has a 12 month low of $3.32 and a 12 month 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.

Acco Brands (NYSE:ACCO - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $317.40 million during the quarter, compared to analyst estimates of $318.75 million. Acco Brands had a negative net margin of 6.68% and a positive return on equity of 15.48%. As a group, sell-side analysts expect that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.

Acco Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 7.51%. Acco Brands's payout ratio is -26.55%.

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.