Millennium Management LLC Boosts Position in ACCO Brands Co. (NYSE:ACCO)

Millennium Management LLC boosted its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 127.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,532,460 shares of the industrial products company’s stock after buying an additional 859,787 shares during the quarter. Millennium Management LLC owned 1.65% of ACCO Brands worth $8,045,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Burns Matteson Capital Management LLC purchased a new position in ACCO Brands during the 4th quarter worth approximately $61,000. Xponance Inc. purchased a new position in ACCO Brands during the 4th quarter worth approximately $65,000. Versor Investments LP purchased a new position in ACCO Brands during the 4th quarter worth approximately $82,000. Syon Capital LLC purchased a new position in ACCO Brands during the 4th quarter worth approximately $83,000. Finally, EP Wealth Advisors LLC raised its position in ACCO Brands by 44.1% during the 4th quarter. EP Wealth Advisors LLC now owns 16,188 shares of the industrial products company’s stock worth $85,000 after buying an additional 4,958 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACCO has been the subject of a number of recent research reports. Wall Street Zen raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Barrington Research dropped their price objective on shares of ACCO Brands from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday.

ACCO Brands Price Performance

Shares of NYSE ACCO opened at $3.48 on Monday. The stock has a market capitalization of $313.09 million, a price-to-earnings ratio of -3.28, a PEG ratio of 0.37 and a beta of 1.36. ACCO Brands Co. has a 12 month low of $3.41 and a 12 month high of $6.44. The firm’s 50 day simple moving average is $3.89 and its 200-day simple moving average is $4.83. 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 quarterly earnings data on Thursday, May 1st. The industrial products company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $317.40 million for the quarter, compared to analysts’ expectations of $318.75 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. Analysts expect that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 23rd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 8.63%. ACCO Brands’s dividend payout ratio is currently -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.