JPMorgan Chase & Co. Increases Stake in ACCO Brands Co.

In the third quarter, JPMorgan Chase & Co. raised its investment in ACCO Brands Co. (NYSE:ACCO) by 3.3%, according to their latest Form 13F submission to the Securities and Exchange Commission. Following this increase, the institutional investor now holds 518,123 shares of the company, having purchased an additional 16,714 shares during the quarter. As per the recent filing, JPMorgan's holdings in ACCO Brands are valued at approximately $2,834,000.

Several other institutional investors and hedge funds have also transitioned their investments in ACCO Brands recently. In the second quarter, Bank of Montreal Can established a new position in the company's shares valued at $4,588,000. Additionally, Millennium Management LLC increased its stake by an impressive 116.1% during the same quarter, now owning a total of 1,173,755 shares worth $5,517,000 after acquiring 630,663 shares. American Century Companies Inc. similarly expanded its position by 113.0%, bringing its total to 1,063,997 shares valued at $5,001,000 after an additional purchase of 564,406 shares. Furthermore, Capital Management Corp VA increased its holdings by 14.3% in the third quarter, now owning 3,526,095 shares which are worth $19,288,000 after buying 439,810 shares. Lastly, AQR Capital Management LLC raised its position by 34.6%, owning a total of 1,656,925 shares, valued at $7,788,000 following a purchase of 426,201 shares. It is noteworthy that 84.56% of the total shares are currently held by institutional investors.

Stock Performance of ACCO Brands

As of Tuesday, shares of ACCO Brands opened at $5.25. The company’s stock has recorded a fifty-two week low of $4.36 and a high of $6.62, giving it a market capitalization of $487.16 million. ACCO Brands exhibits a PE ratio of -2.78, a PEG ratio of 0.37, and a beta of 1.68. Additionally, the company holds a debt-to-equity ratio of 1.38, with a quick ratio of 0.94 and a current ratio of 1.60. The stock’s fifty-day moving average stands at $5.60, and its two-hundred day moving average is $5.31.

Recently, ACCO Brands released its earnings report on October 31st, revealing an EPS of $0.23 for the quarter, matching analysts' expectations. The company recorded revenues of $420.90 million, which were slightly above the consensus estimate of $418.20 million. However, ACCO Brands experienced a negative net margin of 10.64% and a positive return on equity at 14.30%. Compared to the same quarter the previous year, the revenue has declined by 6.0%, and the EPS for that period was $0.24. Analysts predict that ACCO Brands Co. will report an EPS of 1.04 for the ongoing fiscal year.

Recent Dividend Announcement by ACCO Brands

ACCO Brands announced a quarterly dividend, paid on December 11th. Shareholders recorded as of November 15th received a dividend of $0.075 per share, which translates to an annualized dividend of $0.30, yielding a dividend yield of 5.72%. The ex-dividend date was also on November 15th, and the company's current dividend payout ratio stands at -15.87%.

Analyst Rating Updates for ACCO Brands

Several analysts have recently updated their ratings on ACCO Brands. StockNews.com downgraded the company from a "strong-buy" rating to a "buy" rating on December 20th. In contrast, Barrington Research raised their price target for ACCO Brands shares, increasing it from $7.00 to $7.50 and rating the company as an "outperform" on November 22nd.

About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets a wide range of consumer, school, technology, and office products. The company operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International, providing various products including computer accessories, planners, dry erase boards, school notebooks, and a selection of organizational tools.

JPMorgan, ACCO, Investments, Stocks, Trading