ACCO Brands Co. (NYSE:ACCO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,659,575 shares of the industrial products company’s stock after selling 410,028 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.79% of ACCO Brands worth $9,078,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in ACCO Brands by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,023,805 shares of the industrial products company’s stock worth $32,950,000 after purchasing an additional 272,454 shares during the period. Capital Management Corp VA boosted its stake in ACCO Brands by 14.3% in the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after purchasing an additional 439,810 shares during the period. AQR Capital Management LLC boosted its stake in ACCO Brands by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after purchasing an additional 426,201 shares during the period. Bank of New York Mellon Corp boosted its stake in ACCO Brands by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock worth $6,109,000 after purchasing an additional 76,840 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of ACCO Brands by 116.1% during the 2nd quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after buying an additional 630,663 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

ACCO Brands Stock Performance

NYSE:ACCO opened at $6.20 on Wednesday. The firm’s 50-day moving average is $5.57 and its 200-day moving average is $5.21. ACCO Brands Co. has a 52-week low of $4.36 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The company has a market cap of $575.39 million, a price-to-earnings ratio of -3.28, a PEG ratio of 0.49 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The business had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. Equities research analysts anticipate that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be given a $0.075 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 4.84%. ACCO Brands’s dividend payout ratio (DPR) is presently -15.87%.

ACCO Brands Company 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.