Easterly Investment Partners LLC Lowers Stock Position in ACCO Brands Co. (NYSE:ACCO)

Easterly Investment Partners LLC lowered its position in ACCO Brands Co. (NYSE:ACCO) by 18.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,943 shares of the industrial products company’s stock after selling 41,819 shares during the quarter. Easterly Investment Partners LLC owned 0.19% of ACCO Brands worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in ACCO Brands by 123.0% during the 3rd 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 period. EP Wealth Advisors LLC bought a new stake in ACCO Brands during the third quarter valued at $61,000. Y Intercept Hong Kong Ltd acquired a new stake in ACCO Brands during the third quarter worth about $63,000. Burns Matteson Capital Management LLC acquired a new position in ACCO Brands in the fourth quarter valued at approximately $61,000. Finally, Xponance Inc. bought a new position in shares of ACCO Brands during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Friday. Barrington Research cut their price target on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th.

ACCO Brands Stock Up 2.5 %

Shares of ACCO Brands stock opened at $4.51 on Friday. The stock has a 50-day moving average price of $4.90 and a 200 day moving average price of $5.27. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The company has a market cap of $419.08 million, a P/E ratio of -4.26, a P/E/G ratio of 0.37 and a beta of 1.74. ACCO Brands Co. has a 1 year low of $4.30 and a 1 year high of $6.44.

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

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 6.65%. ACCO Brands’s dividend payout ratio (DPR) is presently -28.30%.

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.