Virtu Financial LLC Purchases Shares of 34,456 ACCO Brands Co. (NYSE:ACCO)

Virtu Financial LLC acquired a new stake in shares of ACCO Brands Co. (NYSE:ACCO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,456 shares of the industrial products company’s stock, valued at approximately $188,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of ACCO Brands by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,023,805 shares of the industrial products company’s stock worth $32,950,000 after purchasing an additional 272,454 shares in the last quarter. Wellington Management Group LLP grew its stake in ACCO Brands by 1.7% during the third quarter. Wellington Management Group LLP now owns 4,776,716 shares of the industrial products company’s stock worth $26,129,000 after buying an additional 81,990 shares during the last quarter. Capital Management Corp VA increased its holdings in shares of ACCO Brands by 14.3% during the third quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after buying an additional 439,810 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ACCO Brands by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock valued at $11,855,000 after acquiring an additional 53,490 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of ACCO Brands by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after acquiring an additional 426,201 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barrington Research raised their price target on ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com upgraded ACCO Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 12th.

ACCO Brands Price Performance

ACCO opened at $5.46 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The company’s 50 day simple moving average is $5.64 and its 200-day simple moving average is $5.24. ACCO Brands Co. has a one year low of $4.36 and a one year high of $6.62. The stock has a market capitalization of $507.13 million, a P/E ratio of -2.89, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Sell-side analysts anticipate that ACCO Brands Co. will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, November 15th. ACCO Brands’s dividend payout ratio is -15.87%.

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.