Acco Brands Corporation $ACCO Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its stake in Acco Brands Corporation (NYSE:ACCO) by 58.1% in the first quarter, Holdings Channel.com reports. The firm owned 150,047 shares of the industrial products company’s stock after selling 207,794 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Acco Brands were worth $450,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings 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 during the last quarter. Cetera Investment Advisers increased its holdings in shares of Acco Brands by 80.4% during the 1st quarter. Cetera Investment Advisers now owns 97,021 shares of the industrial products company’s stock worth $291,000 after buying an additional 43,226 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Acco Brands by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,436,286 shares of the industrial products company’s stock worth $13,308,000 after buying an additional 79,116 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Acco Brands by 0.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,717,401 shares of the industrial products company’s stock worth $22,612,000 after buying an additional 67,799 shares during the period. Finally, Bank of New York Mellon Corp boosted 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 acquiring an additional 206,549 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Insider Activity at Acco Brands

In other news, SVP Angela Y. Jones sold 57,217 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.02, for a total transaction of $230,012.34. Following the transaction, the senior vice president directly owned 18,580 shares of the company’s stock, valued at approximately $74,691.60. The trade was a 75.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Acco Brands Trading Down 0.1%

NYSE:ACCO opened at $4.34 on Thursday. The business’s 50-day moving average is $4.00 and its two-hundred day moving average is $3.77. The firm has a market capitalization of $400.86 million, a PE ratio of 5.57, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. Acco Brands Corporation has a 12 month low of $2.81 and a 12 month high of $4.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.77 and a quick ratio of 0.98.

Acco Brands (NYSE:ACCO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.07. The business had revenue of $343.70 million for the quarter, compared to the consensus estimate of $319.93 million. Acco Brands had a return on equity of 12.58% and a net margin of 4.76%. Research analysts predict that Acco Brands Corporation will post 0.87 earnings per share for the current fiscal year.

Acco Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, August 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.9%. Acco Brands’s dividend payout ratio (DPR) is currently 38.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings raised Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Zacks Research upgraded Acco Brands from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Barrington Research reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Acco Brands in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Acco Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. One equities 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

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.