8,277 Shares in ACCO Brands Co. (NYSE:ACCO) Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System bought a new position in shares of ACCO Brands Co. (NYSE:ACCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,277 shares of the industrial products company’s stock, valued at approximately $50,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in ACCO Brands by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,018,550 shares of the industrial products company’s stock worth $8,149,000 after purchasing an additional 14,925 shares during the period. American Century Companies Inc. purchased a new stake in ACCO Brands during the 1st quarter worth about $363,000. MetLife Investment Management LLC increased its holdings in ACCO Brands by 115.9% during the 1st quarter. MetLife Investment Management LLC now owns 50,138 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 26,920 shares during the period. Panagora Asset Management Inc. increased its holdings in ACCO Brands by 215.8% during the 1st quarter. Panagora Asset Management Inc. now owns 91,057 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 62,226 shares during the period. Finally, BlackRock Inc. increased its holdings in ACCO Brands by 0.9% during the 1st quarter. BlackRock Inc. now owns 10,391,148 shares of the industrial products company’s stock worth $83,131,000 after purchasing an additional 92,697 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ACCO has been the topic of several recent research reports. StockNews.com downgraded ACCO Brands from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $7.50 price objective on shares of ACCO Brands in a report on Thursday, February 29th.

ACCO Brands Trading Up 1.2 %

ACCO opened at $4.92 on Friday. ACCO Brands Co. has a one year low of $4.30 and a one year high of $6.62. The company has a market cap of $470.55 million, a P/E ratio of -20.50, a PEG ratio of 0.38 and a beta of 1.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. The business’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $5.58.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Friday, February 23rd. The industrial products company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The business had revenue of $488.60 million for the quarter, compared to the consensus estimate of $476.37 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that ACCO Brands Co. will post 1.07 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 6.10%. ACCO Brands’s dividend payout ratio is presently -125.00%.

ACCO Brands 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.