Public Employees Retirement System of Ohio lifted its position in ACCO Brands Co. (NYSE:ACCO) by 91.7% during the second quarter, Holdings Channel reports. The institutional investor owned 94,673 shares of the industrial products company’s stock after buying an additional 45,277 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ACCO Brands were worth $1,311,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ACCO. Millennium Management LLC grew its position in shares of ACCO Brands by 16.6% in the 1st quarter. Millennium Management LLC now owns 2,454,991 shares of the industrial products company’s stock worth $30,810,000 after buying an additional 350,240 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of ACCO Brands in the 2nd quarter worth approximately $3,017,000. Schwab Charles Investment Management Inc. grew its position in shares of ACCO Brands by 11.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,144,677 shares of the industrial products company’s stock worth $15,854,000 after buying an additional 113,907 shares during the last quarter. Royal Bank of Canada grew its position in shares of ACCO Brands by 1.8% in the 1st quarter. Royal Bank of Canada now owns 6,324,456 shares of the industrial products company’s stock worth $79,371,000 after buying an additional 111,230 shares during the last quarter. Finally, ICM Asset Management Inc. WA purchased a new position in shares of ACCO Brands in the 2nd quarter worth approximately $1,420,000. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ACCO opened at $10.20 on Friday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 0.85 and a beta of 1.21. ACCO Brands Co. has a twelve month low of $10.13 and a twelve month high of $14.63. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 1.35.

ACCO Brands (NYSE:ACCO) last released its earnings results on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $498.80 million for the quarter, compared to analysts’ expectations of $493.85 million. ACCO Brands had a return on equity of 17.95% and a net margin of 7.02%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. On average, equities research analysts expect that ACCO Brands Co. will post 1.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Shareholders of record on Friday, August 31st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, August 30th. ACCO Brands’s dividend payout ratio is presently 20.17%.

In other ACCO Brands news, SVP Gregory J. Mccormack sold 15,678 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the sale, the senior vice president now owns 81,079 shares of the company’s stock, valued at approximately $1,007,001.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.

Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Noble Financial reissued a “buy” rating and set a $15.00 target price on shares of ACCO Brands in a research report on Monday, August 6th. Finally, ValuEngine downgraded shares of ACCO Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.40.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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