Charles Schwab Investment Management Inc. Sells 441,144 Shares of ACCO Brands Co. (NYSE:ACCO)

Charles Schwab Investment Management Inc. decreased its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 26.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,218,431 shares of the industrial products company’s stock after selling 441,144 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ACCO Brands were worth $6,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of ACCO Brands by 2.5% during 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 in the last quarter. Barclays PLC raised its stake in ACCO Brands by 285.3% in the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after buying an additional 109,813 shares in the last quarter. HighTower Advisors LLC raised its stake in 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. FMR LLC lifted 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 period. Finally, Allspring Global Investments Holdings LLC boosted its position in ACCO Brands by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company’s stock valued at $31,767,000 after acquiring an additional 97,086 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACCO shares. Barrington Research decreased their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded ACCO Brands from a “buy” rating to a “hold” rating in a report on Thursday, March 20th.

ACCO Brands Trading Up 2.4 %

NYSE:ACCO opened at $4.44 on Tuesday. The firm has a market capitalization of $412.76 million, a P/E ratio of -4.19, a PEG ratio of 0.37 and a beta of 1.74. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. ACCO Brands Co. has a one year low of $4.30 and a one year high of $6.44. The company’s 50-day simple moving average is $4.95 and its 200 day simple moving average is $5.29.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results 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). The company had revenue of $448.10 million during the quarter, compared to analysts’ expectations of $455.06 million. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. As a group, analysts forecast that ACCO Brands Co. will post 1.02 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Friday, March 14th. ACCO Brands’s dividend payout ratio (DPR) is -28.30%.

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.