ACCO Brands Co. (NYSE:ACCO) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC trimmed its position in ACCO Brands Co. (NYSE:ACCO) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,605 shares of the industrial products company’s stock after selling 38,568 shares during the quarter. Easterly Investment Partners LLC’s holdings in ACCO Brands were worth $872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in ACCO Brands during the 1st quarter worth $65,000. Gladius Capital Management LP acquired a new position in ACCO Brands in the 4th quarter worth $73,000. Somerset Trust Co purchased a new position in ACCO Brands in the 2nd quarter valued at about $57,000. SG Americas Securities LLC acquired a new stake in shares of ACCO Brands during the first quarter worth approximately $71,000. Finally, Paloma Partners Management Co bought a new position in ACCO Brands during the 1st quarter worth approximately $74,000. 84.56% of the stock is owned by institutional investors and hedge funds.

ACCO Brands Stock Down 0.2 %

Shares of ACCO stock traded down $0.01 on Monday, hitting $5.44. The company’s stock had a trading volume of 113,765 shares, compared to its average volume of 638,410. The stock has a market capitalization of $520.06 million, a price-to-earnings ratio of -20.19, a P/E/G ratio of 0.40 and a beta of 1.62. The firm’s fifty day moving average price is $4.83 and its 200-day moving average price is $5.16. ACCO Brands Co. has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts anticipate that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Friday, August 16th. ACCO Brands’s payout ratio is currently -111.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barrington Research lowered their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

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.