Foundry Partners LLC Reduces Stock Holdings in ACCO Brands Co. (NYSE:ACCO)

Foundry Partners LLC reduced its position in ACCO Brands Co. (NYSE:ACCO) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 606,028 shares of the industrial products company’s stock after selling 10,924 shares during the period. Foundry Partners LLC’s holdings in ACCO Brands were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of ACCO Brands during the 4th quarter worth $50,000. MQS Management LLC purchased a new stake in ACCO Brands during the third quarter valued at about $66,000. Sherbrooke Park Advisers LLC purchased a new stake in ACCO Brands during the third quarter valued at about $82,000. AXQ Capital LP boosted its position in ACCO Brands by 34.8% during the third quarter. AXQ Capital LP now owns 16,770 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 4,332 shares during the period. Finally, WINTON GROUP Ltd increased its stake in shares of ACCO Brands by 15.1% in the third quarter. WINTON GROUP Ltd now owns 17,172 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 2,255 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ACCO. StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Barrington Research restated an “outperform” rating and set a $7.50 target price on shares of ACCO Brands in a research report on Thursday, February 29th.

ACCO Brands Stock Up 0.8 %

Shares of NYSE ACCO opened at $4.96 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. The company has a market cap of $474.37 million, a P/E ratio of -20.67, a P/E/G ratio of 0.38 and a beta of 1.64. ACCO Brands Co. has a 52 week low of $4.30 and a 52 week high of $6.62. The business has a 50-day simple moving average of $5.53 and a two-hundred day simple moving average of $5.58.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results 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 firm had revenue of $488.60 million for the quarter, compared to the consensus estimate of $476.37 million. ACCO Brands had a negative net margin of 1.19% and a positive return on equity of 12.94%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Research analysts anticipate that ACCO Brands Co. will post 1.07 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.05%. ACCO Brands’s dividend payout ratio (DPR) is currently -125.00%.

About ACCO Brands

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.