Envestnet Asset Management Inc. Has $1.86 Million Stock Position in Acco Brands Corporation (NYSE:ACCO)

Envestnet Asset Management Inc. increased its stake in Acco Brands Corporation (NYSE:ACCO) by 29.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 443,737 shares of the industrial products company’s stock after purchasing an additional 102,213 shares during the period. Envestnet Asset Management Inc. owned approximately 0.49% of Acco Brands worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ACCO. Diversified Trust Co lifted its position in Acco Brands by 18.4% during the first quarter. Diversified Trust Co now owns 30,058 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 4,669 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Acco Brands by 49.8% during the fourth quarter. Deutsche Bank AG now owns 92,644 shares of the industrial products company’s stock worth $486,000 after buying an additional 30,803 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Acco Brands by 4.2% during the fourth quarter. Jane Street Group LLC now owns 388,845 shares of the industrial products company’s stock worth $2,041,000 after buying an additional 15,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Acco Brands by 25.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 345,511 shares of the industrial products company’s stock worth $1,814,000 after buying an additional 70,365 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Acco Brands by 25.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company’s stock worth $68,000 after buying an additional 3,276 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ACCO shares. Barrington Research dropped their target price on shares of Acco Brands from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Wall Street Zen raised shares of Acco Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th.

Acco Brands Trading Down 2.6%

ACCO opened at $3.78 on Thursday. The firm has a market cap of $340.58 million, a P/E ratio of -3.35, a P/E/G ratio of 0.38 and a beta of 1.35. Acco Brands Corporation has a 12 month low of $3.32 and a 12 month high of $6.43. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. The stock has a 50-day moving average of $3.70 and a 200 day moving average of $4.18.

Acco Brands (NYSE:ACCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $317.40 million during the quarter, compared to the consensus estimate of $318.75 million. Acco Brands had a negative net margin of 6.68% and a positive return on equity of 15.48%. As a group, research analysts forecast that Acco Brands Corporation will post 1.02 EPS for the current year.

Acco Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.30 annualized dividend and a dividend yield of 7.94%. Acco Brands’s 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.