American Century Companies Inc. Increases Stock Position in ACCO Brands Co. (NYSE:ACCO)

American Century Companies Inc. increased its position in shares of ACCO Brands Co. (NYSE:ACCO) by 113.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,063,997 shares of the industrial products company’s stock after buying an additional 564,406 shares during the period. American Century Companies Inc. owned about 1.11% of ACCO Brands worth $5,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in ACCO Brands during the 1st quarter valued at $65,000. Somerset Trust Co bought a new position in shares of ACCO Brands during the second quarter worth about $57,000. SG Americas Securities LLC acquired a new position in ACCO Brands in the first quarter worth about $71,000. Paloma Partners Management Co bought a new stake in ACCO Brands in the first quarter valued at about $74,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in ACCO Brands during the first quarter valued at approximately $88,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACCO. Barrington Research reiterated an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a research report on Wednesday, September 4th. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Stock Performance

Shares of NYSE ACCO opened at $5.31 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The firm’s 50-day moving average price is $5.14 and its two-hundred day moving average price is $5.06. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62. The stock has a market capitalization of $508.70 million, a P/E ratio of -19.67, a P/E/G ratio of 0.42 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The business had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a $0.075 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.30 annualized dividend and a yield of 5.65%. ACCO Brands’s dividend payout ratio is presently -111.11%.

Insider Buying and Selling at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.30% of the stock is currently owned by company insiders.

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, 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.