Mackenzie Financial Corp Purchases 14,193 Shares of Acco Brands Corporation (NYSE:ACCO)

Mackenzie Financial Corp grew its position in shares of Acco Brands Corporation (NYSE:ACCO) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,524 shares of the industrial products company’s stock after buying an additional 14,193 shares during the quarter. Mackenzie Financial Corp owned 0.18% of Acco Brands worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers increased its stake in Acco Brands by 40.8% in the 1st quarter. Cetera Investment Advisers now owns 62,726 shares of the industrial products company’s stock worth $263,000 after buying an additional 18,179 shares in the last quarter. Readystate Asset Management LP increased its stake in Acco Brands by 25.3% in the 1st quarter. Readystate Asset Management LP now owns 726,498 shares of the industrial products company’s stock worth $3,044,000 after buying an additional 146,600 shares in the last quarter. Capital Management Corp VA increased its stake in Acco Brands by 27.5% in the 1st quarter. Capital Management Corp VA now owns 4,552,770 shares of the industrial products company’s stock worth $19,076,000 after buying an additional 980,910 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Acco Brands in the 1st quarter worth $543,000. Finally, Nisa Investment Advisors LLC increased its stake in Acco Brands by 273.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 61,543 shares of the industrial products company’s stock worth $258,000 after buying an additional 45,057 shares in the last quarter. 84.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ACCO. Wall Street Zen raised shares of Acco Brands from a “hold” rating to a “buy” rating in a 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 for the company in a report on Friday, May 23rd.

Acco Brands Stock Up 1.8%

Shares of NYSE ACCO opened at $3.60 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.02. The company has a market cap of $324.74 million, a P/E ratio of 7.67, a PEG ratio of 0.41 and a beta of 1.39. Acco Brands Corporation has a 1 year low of $3.32 and a 1 year high of $6.43. The firm has a 50-day simple moving average of $3.70 and a two-hundred day simple moving average of $4.13.

Acco Brands (NYSE:ACCO) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $394.80 million for the quarter, compared to analysts’ expectations of $389.81 million. Acco Brands had a return on equity of 13.60% and a net margin of 2.90%. Research analysts anticipate that Acco Brands Corporation will post 1.02 earnings per share for the current year.

Acco Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, August 22nd. Acco Brands’s dividend payout ratio (DPR) is presently 63.83%.

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.