Vanguard Amends ACCO Brands Stake, Maintains Passive Position
Ticker: ACCO · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 712034
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investing, amendment, SC-13G
TL;DR
**Vanguard still owns a big chunk of ACCO Brands, but it's a passive stake.**
AI Summary
The Vanguard Group, a major investment firm, filed an amendment to its Schedule 13G on February 13, 2024, indicating a change in its ownership of ACCO Brands Corp's Common Stock as of December 29, 2023. This filing, Amendment No. 12, shows that Vanguard continues to hold a significant passive stake in ACCO Brands, a company known for office products. This matters to investors because Vanguard's continued large, passive ownership suggests a long-term, stable institutional interest in ACCO Brands, which can provide a degree of confidence in the stock's stability.
Why It Matters
This filing confirms Vanguard's ongoing substantial, yet passive, investment in ACCO Brands, signaling institutional confidence without intent to influence management.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and indicates a passive stake, posing minimal direct risk to shareholders.
Analyst Insight
An investor should note that Vanguard's continued passive stake suggests long-term institutional interest in ACCO Brands, but this filing alone doesn't signal any immediate catalysts or changes in company direction.
Key Players & Entities
- The Vanguard Group (company) — reporting person and institutional investor
- ACCO Brands Corp (company) — subject company whose securities are being reported
- December 29, 2023 (date) — date of event requiring the filing
- February 13, 2024 (date) — date the SC 13G/A was filed
- 00081T108 (other) — CUSIP Number for ACCO Brands Corp Common Stock
FAQ
What type of filing is this and what does it generally indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It generally indicates that a large institutional investor, like The Vanguard Group, holds a significant passive ownership stake (over 5%) in a company's securities, without the intent to control or influence management.
Who is the reporting person in this filing?
The reporting person in this filing is The Vanguard Group, with IRS Identification No. 23-1945930, located in Valley Forge, PA.
What is the subject company and the class of securities being reported?
The subject company is ACCO Brands Corp, and the class of securities being reported is Common Stock, identified by CUSIP Number 00081T108.
When was the event that required this amendment to be filed?
The date of the event which required the filing of this statement was December 29, 2023.
Which rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?
This Schedule 13G/A is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the checked box on the cover page.
Filing Stats: 809 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-02-13 16:55:58
Filing Documents
- tv0172-accobrandscorp.htm (SC 13G/A) — 11KB
- 0001104659-24-020165.txt ( ) — 13KB
(a) - Name of Issuer
Item 1(a) - Name of Issuer: ACCO Brands Corp
(b) - Address of Issuer's Principal Executive Offices
Item 1(b) - Address of Issuer's Principal Executive Offices: 4 Corporate Drive Lake Zurich, IL 60047-8997
(a) - Name of Person Filing
Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930
(b) – Address of Principal Business Office or, if none, residence
Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355
(c) – Citizenship
Item 2(c) – Citizenship: Pennsylvania
(d) - Title of Class of Securities
Item 2(d) - Title of Class of Securities: Common Stock
(e) - CUSIP Number
Item 2(e) - CUSIP Number 00081T108
- Type of Filing
Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
- Ownership
Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.
- Ownership of Five Percent or Less of a Class
Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following
- Ownership of More Than Five Percent on Behalf of Another Person
Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable
- Identification and Classification of Members of Group
Item 8 - Identification and Classification of Members of Group: Not applicable
- Notice of Dissolution of Group
Item 9 - Notice of Dissolution of Group: Not applicable
- Certification
Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration