Cornercap Investment Counsel Inc. Reduces Stake in ACCO Brands Co. (NYSE:ACCO)

Cornercap Investment Counsel Inc. reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 50.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,236 shares of the industrial products company’s stock after selling 49,359 shares during the quarter. Cornercap Investment Counsel Inc. owned approximately 0.05% of ACCO Brands worth $269,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its stake in shares of ACCO Brands by 137.6% in the 3rd quarter. GSA Capital Partners LLP now owns 355,472 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 205,867 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in shares of ACCO Brands by 20.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 222,762 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 37,157 shares during the last quarter. Capital Management Corp VA lifted its stake in shares of ACCO Brands by 14.3% in the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after purchasing an additional 439,810 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $131,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $86,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Price Performance

ACCO opened at $5.82 on Monday. The stock’s 50-day moving average price is $5.36 and its 200 day moving average price is $5.10. ACCO Brands Co. has a 12-month low of $4.36 and a 12-month high of $6.62. 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 firm has a market cap of $540.57 million, a price-to-earnings ratio of -3.08, a PEG ratio of 0.47 and a beta of 1.63.

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

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is currently -15.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $7.00 price target on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

Insider Buying and Selling at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is owned by corporate insiders.

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.