Meeder Asset Management Inc. grew its holdings in ACCO Brands Co. (NYSE:ACCO) by 710.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,050 shares of the industrial products company’s stock after purchasing an additional 9,687 shares during the quarter. Meeder Asset Management Inc.’s holdings in ACCO Brands were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ACCO. Hartford Investment Management Co. acquired a new position in ACCO Brands in the 2nd quarter valued at $183,000. Cornerstone Wealth Management LLC acquired a new position in ACCO Brands in the 2nd quarter valued at $1,152,000. Dumont & Blake Investment Advisors LLC acquired a new position in ACCO Brands in the 2nd quarter valued at $705,000. First Trust Advisors LP increased its stake in ACCO Brands by 6.1% in the 2nd quarter. First Trust Advisors LP now owns 198,056 shares of the industrial products company’s stock valued at $2,743,000 after buying an additional 11,454 shares during the period. Finally, IndexIQ Advisors LLC increased its stake in ACCO Brands by 7.2% in the 2nd quarter. IndexIQ Advisors LLC now owns 174,293 shares of the industrial products company’s stock valued at $2,414,000 after buying an additional 11,730 shares during the period. 94.68% of the stock is currently owned by institutional investors.

NYSE:ACCO opened at $8.23 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.63. ACCO Brands Co. has a fifty-two week low of $7.39 and a fifty-two week high of $14.63. The firm has a market cap of $843.49 million, a PE ratio of 6.73, a P/E/G ratio of 0.70 and a beta of 1.65.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The company had revenue of $507.30 million for the quarter, compared to analyst estimates of $533.26 million. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect that ACCO Brands Co. will post 1.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.92%. ACCO Brands’s dividend payout ratio (DPR) is presently 20.17%.

In other news, SVP Gregory J. Mccormack sold 15,678 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the transaction, the senior vice president now directly owns 81,079 shares of the company’s stock, valued at approximately $1,007,001.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Pamela R. Schneider purchased 3,100 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $8.10 per share, for a total transaction of $25,110.00. Following the completion of the purchase, the senior vice president now owns 81,788 shares in the company, valued at $662,482.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 19,647 shares of company stock worth $156,253. Corporate insiders own 4.50% of the company’s stock.

Several equities analysts have issued reports on the stock. Noble Financial reissued a “buy” rating and issued a $15.00 price objective on shares of ACCO Brands in a research note on Monday, August 6th. Zacks Investment Research cut shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, ValuEngine cut shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.25.

WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2018/11/16/acco-brands-co-acco-stake-lifted-by-meeder-asset-management-inc.html.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

Featured Story: Treasury Bonds

Want to see what other hedge funds are holding ACCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACCO Brands Co. (NYSE:ACCO).

Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.