New York State Teachers Retirement System Takes Position in ACCO Brands Co. (NYSE:ACCO)

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

Several other institutional investors have also modified their holdings of ACCO. Point72 Hong Kong Ltd lifted its holdings in shares of ACCO Brands by 1,042.2% in the first quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock valued at $27,000 after buying an additional 3,064 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of ACCO Brands in the first quarter valued at $30,000. Tower Research Capital LLC TRC lifted its holdings in shares of ACCO Brands by 170.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,834 shares of the industrial products company’s stock valued at $33,000 after buying an additional 3,673 shares during the period. Quarry LP raised its position in shares of ACCO Brands by 332.7% during the first quarter. Quarry LP now owns 6,733 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 5,177 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of ACCO Brands during the second quarter worth $55,000. Institutional investors and hedge funds own 84.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACCO. StockNews.com lowered ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $7.50 target price on shares of ACCO Brands in a research report on Thursday, February 29th.

ACCO Brands Stock Up 1.2 %

Shares of ACCO Brands stock opened at $4.92 on Friday. The stock’s fifty day moving average is $5.57 and its 200-day moving average is $5.58. The firm has a market capitalization of $470.55 million, a PE ratio of -20.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.64. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. ACCO Brands Co. has a 12-month low of $4.30 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. The firm had revenue of $488.60 million for the quarter, compared to analyst estimates of $476.37 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. ACCO Brands’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities analysts anticipate that ACCO Brands Co. will post 1.07 earnings per share for the current year.

ACCO Brands Dividend Announcement

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