Allianz Asset Management GmbH Acquires 46,303 Shares of Acco Brands Corporation $ACCO

Allianz Asset Management GmbH raised its position in shares of Acco Brands Corporation (NYSE:ACCO) by 89.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,803 shares of the industrial products company’s stock after acquiring an additional 46,303 shares during the period. Allianz Asset Management GmbH owned approximately 0.11% of Acco Brands worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ballentine Partners LLC bought a new position in shares of Acco Brands in the second quarter worth about $40,000. Kapitalo Investimentos Ltda purchased a new position in shares of Acco Brands in the 2nd quarter valued at approximately $55,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Acco Brands by 25.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 3,276 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Acco Brands during the 2nd quarter worth approximately $78,000. Finally, EP Wealth Advisors LLC raised its position in Acco Brands by 40.6% during the 1st quarter. EP Wealth Advisors LLC now owns 22,765 shares of the industrial products company’s stock worth $95,000 after buying an additional 6,577 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors.

Acco Brands Stock Up 0.4%

ACCO opened at $4.09 on Wednesday. The business’s fifty day simple moving average is $4.00 and its 200 day simple moving average is $3.82. Acco Brands Corporation has a 52 week low of $3.32 and a 52 week high of $6.43. The firm has a market cap of $368.18 million, a P/E ratio of 8.69, a PEG ratio of 0.48 and a beta of 1.41. The company has a quick ratio of 1.15, a current ratio of 1.85 and a debt-to-equity ratio of 1.48.

Acco Brands (NYSE:ACCO) last released its earnings results on Friday, March 15th. The industrial products company reported $0.32 earnings per share for the quarter. The firm had revenue of $499.40 million for the quarter. Acco Brands had a return on equity of 13.60% and a net margin of 2.90%. As a group, equities research analysts anticipate that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.

Acco Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Friday, November 21st. Acco Brands’s dividend payout ratio (DPR) is presently 63.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Acco Brands in a research note on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $6.00 price objective on shares of Acco Brands in a research report on Thursday, August 14th. Zacks Research raised Acco Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Wall Street Zen raised Acco Brands from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Acco Brands currently has an average rating of “Hold” and a consensus target price of $6.00.

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.