Cambridge Investment Research Advisors Inc. Raises Stock Position in Acco Brands Corporation (NYSE:ACCO)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Acco Brands Corporation (NYSE:ACCO) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,322 shares of the industrial products company’s stock after purchasing an additional 3,276 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Acco Brands were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ACCO. Millennium Management LLC increased its holdings in Acco Brands by 127.8% in the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company’s stock valued at $8,045,000 after buying an additional 859,787 shares in the last quarter. American Century Companies Inc. increased its holdings 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 valued at $10,857,000 after buying an additional 562,985 shares in the last quarter. Alliancebernstein L.P. increased its holdings 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 valued at $2,154,000 after buying an additional 356,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Acco Brands in the fourth quarter valued at $1,764,000. Finally, JPMorgan Chase & Co. increased its holdings in Acco Brands by 56.6% in the fourth quarter. JPMorgan Chase & Co. now owns 811,629 shares of the industrial products company’s stock valued at $4,261,000 after buying an additional 293,506 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Acco Brands Stock Down 3.1%

ACCO stock opened at $3.66 on Wednesday. The stock has a market capitalization of $329.32 million, a P/E ratio of -3.23, a P/E/G ratio of 0.36 and a beta of 1.35. The firm has a 50-day simple moving average of $3.69 and a 200-day simple moving average of $4.28. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.48. Acco Brands Corporation has a 52 week low of $3.32 and a 52 week high of $6.44.

Acco Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $317.40 million for the quarter, compared to analyst estimates of $318.75 million. Acco Brands had a negative net margin of 6.68% and a positive return on equity of 15.48%. Equities analysts forecast that Acco Brands Corporation will post 1.02 earnings per share for the current fiscal year.

Acco Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 23rd were issued a $0.075 dividend. The ex-dividend date was Friday, May 23rd. This represents a $0.30 annualized dividend and a yield of 8.21%. Acco Brands’s payout ratio is -26.55%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Acco Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Barrington Research cut their target price on shares of Acco Brands from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd.

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.