Raymond James Financial Services Advisors Inc. Sells 5,247 Shares of ACCO Brands Co. (NYSE:ACCO)

Raymond James Financial Services Advisors Inc. lowered its stake in ACCO Brands Co. (NYSE:ACCO) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 58,336 shares of the industrial products company’s stock after selling 5,247 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ACCO Brands were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACCO. Point72 Hong Kong Ltd lifted its position in shares of ACCO Brands by 1,042.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 3,064 shares during the period. Lazard Asset Management LLC purchased a new stake in ACCO Brands in the first quarter worth about $30,000. Tower Research Capital LLC TRC boosted its position in ACCO Brands by 170.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,834 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 3,673 shares in the last quarter. Quarry LP grew its holdings in shares of ACCO Brands by 332.7% during the 1st quarter. Quarry LP now owns 6,733 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 5,177 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of ACCO Brands by 36.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 7,435 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,968 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

ACCO Brands Price Performance

Shares of ACCO opened at $4.92 on Monday. The firm’s 50-day simple moving average is $5.57 and its two-hundred day simple moving average is $5.59. ACCO Brands Co. has a fifty-two week low of $4.30 and a fifty-two week high of $6.62. The stock has a market cap 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 debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58.

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, topping the consensus estimate 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 company 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 firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts anticipate that ACCO Brands Co. will post 1.07 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.10%. ACCO Brands’s dividend payout ratio (DPR) is presently -125.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com lowered ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Barrington Research restated an “outperform” rating and set a $7.50 target price on shares of ACCO Brands in a report on Thursday, February 29th.

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.