Sei Investments Co. Lowers Holdings in ACCO Brands Co. (NYSE:ACCO)

Sei Investments Co. reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 271,251 shares of the industrial products company’s stock after selling 17,091 shares during the period. Sei Investments Co.’s holdings in ACCO Brands were worth $1,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ACCO. Intech Investment Management LLC bought a new position in ACCO Brands in the 3rd quarter worth about $98,000. FMR LLC raised its holdings in ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after buying an additional 3,260 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of ACCO Brands by 21.0% in the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after buying an additional 12,508 shares in the last quarter. Quarry LP lifted its stake in shares of ACCO Brands by 749.0% in the third quarter. Quarry LP now owns 16,573 shares of the industrial products company’s stock worth $91,000 after buying an additional 14,621 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of ACCO Brands by 2.7% during the third quarter. Stifel Financial Corp now owns 313,644 shares of the industrial products company’s stock valued at $1,716,000 after buying an additional 8,153 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Stock Performance

Shares of NYSE ACCO opened at $3.88 on Monday. The firm’s 50-day moving average price is $4.77 and its 200-day moving average price is $5.22. ACCO Brands Co. has a 52-week low of $3.79 and a 52-week high of $6.44. The company has a market cap of $359.91 million, a PE ratio of -3.66, a PEG ratio of 0.37 and a beta of 1.74. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The company had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. As a group, analysts anticipate that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 7.74%. The ex-dividend date of this dividend was Friday, March 14th. ACCO Brands’s payout ratio is currently -28.30%.

Analysts Set New Price Targets

Several research firms recently issued reports on ACCO. Barrington Research lowered their price objective on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research note on Friday, March 28th.

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.