Connor Clark & Lunn Investment Management Ltd. Sells 64,828 Shares of ACCO Brands Co. (NYSE:ACCO)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of 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 period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ACCO Brands were worth $1,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACCO. Empowered Funds LLC raised its position 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 worth $2,384,000 after acquiring an additional 22,110 shares during the period. Royce & Associates LP bought a new stake in shares of ACCO Brands in the 3rd quarter worth approximately $80,000. GSA Capital Partners LLP raised its holdings in shares of ACCO Brands by 137.6% in the 3rd quarter. GSA Capital Partners LLP now owns 355,472 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 205,867 shares during the period. Easterly Investment Partners LLC grew its holdings 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 valued at $1,219,000 after purchasing an additional 37,157 shares during the period. Finally, Capital Management Corp VA increased its position 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 buying an additional 439,810 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

ACCO Brands Trading Up 2.4 %

Shares of ACCO stock opened at $5.96 on Tuesday. The stock has a market capitalization of $553.56 million, a price-to-earnings ratio of -3.15, a PEG ratio of 0.47 and a beta of 1.63. The company’s fifty day simple moving average is $5.43 and its two-hundred day simple moving average is $5.14. ACCO Brands Co. has a 1 year low of $4.36 and a 1 year high of $6.62. 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 (NYSE:ACCO) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that ACCO Brands Co. will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be given a $0.075 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.03%. ACCO Brands’s dividend payout ratio (DPR) is currently -15.87%.

Wall Street Analysts Forecast Growth

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

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.