Wedge Capital Management L L P NC Grows Stock Position in ACCO Brands Co. (NYSE:ACCO)

Wedge Capital Management L L P NC grew its stake in shares of ACCO Brands Co. (NYSE:ACCO - Free Report) by 61.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,483 shares of the industrial products company's stock after purchasing an additional 90,281 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.26% of ACCO Brands worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of ACCO Brands in the 4th quarter valued at $107,000. Empowered Funds LLC increased its holdings in shares of ACCO Brands by 1.9% in the 4th quarter. Empowered Funds LLC now owns 444,171 shares of the industrial products company's stock valued at $2,332,000 after acquiring an additional 8,250 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ACCO Brands by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company's stock valued at $31,767,000 after acquiring an additional 97,086 shares during the period. Versor Investments LP acquired a new position in shares of ACCO Brands in the 4th quarter valued at $82,000. Finally, Bailard Inc. acquired a new position in shares of ACCO Brands in the 4th quarter valued at $253,000. Institutional investors and hedge funds own 84.56% of the company's stock.

Analyst Ratings Changes

ACCO has been the topic of a number of recent research reports. Barrington Research cut their target price on shares of ACCO Brands from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Wall Street Zen raised shares of ACCO Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th.

ACCO Brands Stock Performance

ACCO traded down $0.16 during trading on Friday, hitting $3.57. The stock had a trading volume of 567,972 shares, compared to its average volume of 708,626. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The firm has a market capitalization of $321.20 million, a P/E ratio of -3.36, a PEG ratio of 0.37 and a beta of 1.37. The company's 50-day moving average price is $3.71 and its 200 day moving average price is $4.59. ACCO Brands Co. has a twelve month low of $3.41 and a twelve month high of $6.44.

ACCO Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $317.40 million for the quarter, compared to analysts' expectations of $318.75 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. On average, equities research analysts forecast 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. Shareholders of record on Friday, May 23rd will be given a dividend of $0.075 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.30 annualized dividend and a dividend yield of 8.42%. ACCO Brands's payout ratio is currently -26.55%.

ACCO Brands Company 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.