D. E. Shaw & Co. Inc. Acquires 62,702 Shares of ACCO Brands Co. (NYSE:ACCO)

D. E. Shaw & Co. Inc. increased its holdings in ACCO Brands Co. (NYSE:ACCO) by 26.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,859 shares of the industrial products company’s stock after buying an additional 62,702 shares during the period. D. E. Shaw & Co. Inc. owned about 0.33% of ACCO Brands worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in ACCO Brands by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,369,804 shares of the industrial products company’s stock worth $33,441,000 after buying an additional 106,256 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in ACCO Brands by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company’s stock worth $31,767,000 after buying an additional 97,086 shares in the last quarter. Capital Management Corp VA raised its stake in ACCO Brands by 1.3% in the fourth quarter. Capital Management Corp VA now owns 3,571,860 shares of the industrial products company’s stock worth $18,752,000 after buying an additional 45,765 shares in the last quarter. American Century Companies Inc. raised its stake in ACCO Brands by 37.4% in the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock worth $10,857,000 after buying an additional 562,985 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in ACCO Brands by 3.8% in the fourth quarter. Prudential Financial Inc. now owns 1,199,374 shares of the industrial products company’s stock worth $6,297,000 after buying an additional 44,130 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ACCO has been the topic of several analyst reports. Barrington Research cut their price target on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th.

ACCO Brands Price Performance

NYSE ACCO opened at $3.63 on Thursday. The firm’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $4.87. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. ACCO Brands Co. has a 12-month low of $3.41 and a 12-month high of $6.44. The firm has a market capitalization of $326.61 million, a P/E ratio of -3.42, a P/E/G ratio of 0.37 and a beta of 1.36.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The business had revenue of $317.40 million for the quarter, compared to analyst estimates of $318.75 million. Analysts forecast that ACCO Brands Co. will post 1.02 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 8.28%. The ex-dividend date of this dividend is Friday, May 23rd. ACCO Brands’s dividend payout ratio (DPR) is presently -26.55%.

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.