Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in ACCO Brands Co. (NYSE:ACCO)

Connor Clark & Lunn Investment Management Ltd. cut its stake in ACCO Brands Co. (NYSE:ACCO) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 335,739 shares of the industrial products company’s stock after selling 3,373 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ACCO Brands were worth $1,763,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. 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 valued at $32,000 after acquiring an additional 3,260 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in ACCO Brands in the third quarter valued at approximately $61,000. Burns Matteson Capital Management LLC acquired a new position in ACCO Brands in the fourth quarter valued at approximately $61,000. Y Intercept Hong Kong Ltd acquired a new position in ACCO Brands in the third quarter valued at approximately $63,000. Finally, Somerset Trust Co lifted its holdings in ACCO Brands by 22.1% in the fourth quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 2,724 shares during the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Stock Down 2.7 %

NYSE:ACCO opened at $4.46 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The stock’s fifty day moving average is $5.00 and its two-hundred day moving average is $5.31. ACCO Brands Co. has a 52 week low of $4.30 and a 52 week high of $6.44. The stock has a market capitalization of $413.78 million, a price-to-earnings ratio of -4.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The firm had revenue of $448.10 million for the quarter, compared to analyst estimates of $455.06 million. Research analysts anticipate that ACCO Brands Co. will post 1.02 EPS for the current year.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date is Friday, March 14th. ACCO Brands’s dividend payout ratio is currently -28.30%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barrington Research decreased their price objective on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th.

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.