Geode Capital Management LLC Sells 31,222 Shares of ACCO Brands Co. (NYSE:ACCO)

Geode Capital Management LLC decreased its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,135,690 shares of the industrial products company’s stock after selling 31,222 shares during the period. Geode Capital Management LLC owned approximately 2.30% of ACCO Brands worth $11,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in ACCO Brands by 663.4% in the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company’s stock worth $2,154,000 after purchasing an additional 356,500 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ACCO Brands by 28.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,096,273 shares of the industrial products company’s stock valued at $5,755,000 after buying an additional 239,997 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of ACCO Brands by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 811,629 shares of the industrial products company’s stock worth $4,261,000 after buying an additional 293,506 shares during the period. Prudential Financial Inc. increased its stake in shares of ACCO Brands by 3.8% in the 4th quarter. Prudential Financial Inc. now owns 1,199,374 shares of the industrial products company’s stock worth $6,297,000 after acquiring an additional 44,130 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in ACCO Brands by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,369,804 shares of the industrial products company’s stock valued at $33,441,000 after acquiring an additional 106,256 shares during the period. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACCO. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Barrington Research cut their price target on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

ACCO Brands Price Performance

ACCO opened at $3.79 on Wednesday. ACCO Brands Co. has a 1 year low of $3.47 and a 1 year high of $6.44. The stock has a 50-day moving average price of $4.36 and a 200-day moving average price of $5.06. The firm has a market cap of $341.02 million, a PE ratio of -3.57, a P/E/G ratio of 0.37 and a beta of 1.60. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The firm had revenue of $448.10 million during the quarter, compared to analysts’ expectations of $455.06 million. Sell-side analysts predict that ACCO Brands Co. will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 7.93%. The ex-dividend date was Friday, March 14th. ACCO Brands’s dividend payout ratio is currently -28.30%.

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.