Readystate Asset Management LP Boosts Stock Position in ACCO Brands Co. (NYSE:ACCO)

Readystate Asset Management LP grew its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 146.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,891 shares of the industrial products company’s stock after buying an additional 266,484 shares during the period. Readystate Asset Management LP owned 0.47% of ACCO Brands worth $2,729,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd raised its stake in ACCO Brands by 1,042.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 3,064 shares during the period. Lazard Asset Management LLC bought a new stake in ACCO Brands during the 1st quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its stake in ACCO Brands by 170.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,834 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 3,673 shares during the period. Quarry LP raised its stake in ACCO Brands by 332.7% during the 1st quarter. Quarry LP now owns 6,733 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 5,177 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in ACCO Brands during the 4th quarter valued at approximately $50,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $7.50 price objective on shares of ACCO Brands in a research note on Thursday, February 29th. StockNews.com downgraded ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

ACCO Brands Price Performance

NYSE:ACCO traded down $0.10 during trading hours on Wednesday, reaching $4.84. The stock had a trading volume of 729,826 shares, compared to its average volume of 682,806. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. ACCO Brands Co. has a 52 week low of $4.30 and a 52 week high of $6.62. The company has a 50 day moving average price of $5.62 and a two-hundred day moving average price of $5.59. The stock has a market capitalization of $462.90 million, a PE ratio of -20.17, a PEG ratio of 0.39 and a beta of 1.64.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Friday, February 23rd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $488.60 million for the quarter, compared to the consensus estimate of $476.37 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. As a group, sell-side analysts anticipate that ACCO Brands Co. will post 1.07 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 6.20%. The ex-dividend date was Thursday, March 14th. ACCO Brands’s dividend payout ratio is currently -125.00%.

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.