Price T Rowe Associates Inc. MD lessened its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,717 shares of the industrial products company’s stock after selling 18,800 shares during the period. Price T Rowe Associates Inc. MD owned 0.18% of ACCO Brands worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in ACCO Brands during the third quarter worth approximately $27,000. First Trust Advisors LP bought a new stake in ACCO Brands during the fourth quarter worth approximately $98,000. ProShare Advisors LLC raised its holdings in ACCO Brands by 80.7% during the fourth quarter. ProShare Advisors LLC now owns 20,462 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 9,140 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in ACCO Brands by 30.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,080 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 5,650 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in ACCO Brands during the fourth quarter worth approximately $289,000. 88.22% of the stock is currently owned by institutional investors.
In other ACCO Brands news, VP Thomas W. Tedford sold 5,272 shares of ACCO Brands stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $8.34, for a total transaction of $43,968.48. Also, CEO Boris Elisman sold 94,944 shares of ACCO Brands stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $8.40, for a total transaction of $797,529.60. Over the last quarter, insiders have sold 108,818 shares of company stock worth $923,217. Corporate insiders own 5.80% of the company’s stock.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Monday, February 15th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $460.10 million for the quarter, compared to analyst estimates of $448.69 million. ACCO Brands had a net margin of 4.37% and a return on equity of 11.20%. As a group, equities analysts predict that ACCO Brands Co. will post 0.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 29th. Shareholders of record on Wednesday, March 17th were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 2.96%. The ex-dividend date was Tuesday, March 16th. ACCO Brands’s payout ratio is 21.67%.
ACCO has been the topic of several recent analyst reports. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a report on Friday, March 19th. TheStreet lowered shares of ACCO Brands from a “b” rating to a “c” rating in a research report on Wednesday, February 17th.
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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.
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