ACCO Brands Co. (NYSE:ACCO) Stock Position Cut by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 23.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,090 shares of the industrial products company’s stock after selling 12,702 shares during the quarter. MetLife Investment Management LLC’s holdings in ACCO Brands were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ACCO. 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 valued at $32,950,000 after purchasing an additional 272,454 shares during the period. Capital Management Corp VA grew its holdings in 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 acquiring an additional 439,810 shares during the period. AQR Capital Management LLC raised its position in ACCO Brands by 34.6% in the second 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. Bank of New York Mellon Corp lifted its holdings in ACCO Brands by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock valued at $6,109,000 after acquiring an additional 76,840 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of ACCO Brands by 116.1% during the 2nd quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after purchasing an additional 630,663 shares in the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

ACCO Brands Price Performance

ACCO stock opened at $6.09 on Monday. ACCO Brands Co. has a one year low of $4.36 and a one year high of $6.62. The firm has a 50-day moving average of $5.54 and a two-hundred day moving average of $5.19. The firm has a market capitalization of $565.65 million, a PE ratio of -3.22, a P/E/G ratio of 0.50 and a beta of 1.67. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting 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 period in the previous year, the firm earned $0.24 earnings per share. ACCO Brands’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts forecast that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 4.93%. ACCO Brands’s dividend payout ratio is -15.87%.

Wall Street Analyst Weigh In

Separately, Barrington Research increased their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

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.