Connor Clark & Lunn Investment Management Ltd. Has $1.86 Million Position in ACCO Brands Co. (NYSE:ACCO)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in ACCO Brands Co. (NYSE:ACCO) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,112 shares of the industrial products company’s stock after selling 64,828 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of ACCO Brands worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Empowered Funds LLC lifted its stake in ACCO Brands by 5.3% in the third quarter. Empowered Funds LLC now owns 435,921 shares of the industrial products company’s stock valued at $2,384,000 after buying an additional 22,110 shares during the period. Royce & Associates LP bought a new stake in shares of ACCO Brands in the 3rd quarter valued at $80,000. GSA Capital Partners LLP lifted its position in shares of ACCO Brands by 137.6% during 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 acquiring an additional 205,867 shares during the period. Easterly Investment Partners LLC boosted its stake in ACCO Brands by 20.0% during the third quarter. Easterly Investment Partners LLC now owns 222,762 shares of the industrial products company’s stock worth $1,219,000 after acquiring an additional 37,157 shares in the last quarter. Finally, Capital Management Corp VA grew its holdings in ACCO Brands by 14.3% in 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 purchasing an additional 439,810 shares during the period. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Price Performance

Shares of NYSE ACCO opened at $5.96 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The firm’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.14. The stock has a market cap of $553.56 million, a price-to-earnings ratio of -3.15, a PEG ratio of 0.47 and a beta of 1.63. ACCO Brands Co. has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

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

ACCO Brands Announces Dividend

The company also recently declared 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. This represents a $0.30 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio (DPR) is presently -15.87%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Barrington Research increased their price target on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Friday.

ACCO Brands Company 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.