First Eagle Investment Management LLC Raises Stake in ACCO Brands Co. (NYSE:ACCO)

First Eagle Investment Management LLC grew its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 205.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 490,525 shares of the industrial products company’s stock after purchasing an additional 329,822 shares during the period. First Eagle Investment Management LLC owned approximately 0.53% of ACCO Brands worth $2,575,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in shares of ACCO Brands by 123.0% during the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 3,260 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of ACCO Brands during the 3rd quarter worth $61,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of ACCO Brands during the 3rd quarter worth $63,000. Burns Matteson Capital Management LLC purchased a new stake in shares of ACCO Brands in the 4th quarter worth about $61,000. Finally, Royce & Associates LP purchased a new stake in shares of ACCO Brands in the 3rd quarter worth about $80,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ACCO. Barrington Research decreased their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Wednesday.

ACCO Brands Price Performance

ACCO Brands stock opened at $4.53 on Friday. The firm’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $5.33. ACCO Brands Co. has a 52 week low of $4.30 and a 52 week high of $6.44. The firm has a market capitalization of $420.29 million, a PE ratio of -4.27, a P/E/G ratio of 0.37 and a beta of 1.74. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last announced its 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). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The firm had revenue of $448.10 million during the quarter, compared to analyst estimates of $455.06 million. On average, equities research analysts predict that ACCO Brands Co. will post 1.02 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 6.63%. The ex-dividend date is Friday, March 14th. ACCO Brands’s payout ratio is -28.30%.

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.