Renaissance Technologies LLC Cuts Holdings in Acco Brands Corporation $ACCO

Key Points

• Renaissance Technologies cut its Acco Brands stake by 31.9% in the first quarter, selling 418,626 shares and retaining 894,821 shares worth approximately $2.68 million. Institutional investors collectively own 84.56% of the company.
• Acco Brands exceeded quarterly expectations, reporting $0.29 in EPS versus a $0.27 consensus estimate and revenue of $415.1 million versus $402.5 million expected. Analysts maintain a consensus “Hold” rating with an average $6.00 price target.
• The company declared a quarterly dividend of $0.075 per share, equivalent to an annualized $0.30 payout and a 6.8% yield; shares recently traded at $4.40.

Renaissance Technologies LLC lowered its position in Acco Brands Corporation (NYSE:ACCO - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 894,821 shares of the industrial products company's stock after selling 418,626 shares during the period. Renaissance Technologies LLC owned about 0.97% of Acco Brands worth $2,684,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ACCO. Sei Investments Co. increased its stake in shares of Acco Brands by 37.6% in the 1st quarter. Sei Investments Co. now owns 419,220 shares of the industrial products company's stock valued at $1,258,000 after purchasing an additional 114,461 shares in the last quarter. Cetera Investment Advisers boosted its position in Acco Brands by 80.4% during the first quarter. Cetera Investment Advisers now owns 97,021 shares of the industrial products company's stock worth $291,000 after purchasing an additional 43,226 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Acco Brands by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,436,286 shares of the industrial products company's stock worth $13,308,000 after purchasing an additional 79,116 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Acco Brands by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,717,401 shares of the industrial products company's stock valued at $22,612,000 after purchasing an additional 67,799 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Acco Brands by 27.7% in the first quarter. Bank of New York Mellon Corp now owns 952,016 shares of the industrial products company's stock valued at $2,856,000 after purchasing an additional 206,549 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Acco Brands

In related news, SVP Angela Y. Jones sold 57,217 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.02, for a total value of $230,012.34. Following the completion of the transaction, the senior vice president directly owned 18,580 shares of the company's stock, valued at approximately $74,691.60. This represents a 75.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded Acco Brands from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Barrington Research set a $6.00 target price on Acco Brands in a research report on Wednesday. Wall Street Zen cut shares of Acco Brands from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised shares of Acco Brands from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.00.

Acco Brands Trading Down 0.2%

Shares of Acco Brands stock opened at $4.40 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.22 and a debt-to-equity ratio of 1.30. Acco Brands Corporation has a twelve month low of $2.81 and a twelve month high of $4.56. The firm has a market capitalization of $406.44 million, a PE ratio of 7.10, a P/E/G ratio of 0.84 and a beta of 1.21. The firm's 50-day moving average price is $4.05 and its 200 day moving average price is $3.78.

Acco Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Acco Brands had a return on equity of 12.57% and a net margin of 3.74%.The company had revenue of $415.10 million during the quarter, compared to analyst estimates of $402.53 million. Acco Brands has set its Q3 2026 guidance at 0.170-0.210 EPS and its FY 2026 guidance at 0.870-0.910 EPS. On average, sell-side analysts predict that Acco Brands Corporation will post 0.88 EPS for the current fiscal year.

Acco Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, August 21st. Acco Brands's payout ratio is presently 48.39%.

Acco Brands Company Profile

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company's portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source