Royal Bank of Canada Has $51,390,000 Stake in Acco Brands Corp. (ACCO)

Royal Bank of Canada raised its position in Acco Brands Corp. (NYSE:ACCO) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,722,751 shares of the company’s stock after buying an additional 296,327 shares during the period. Royal Bank of Canada owned about 5.35% of Acco Brands Corp. worth $51,390,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Acco Brands Corp. by 6.9% in the first quarter. Wellington Management Group LLP now owns 14,479,971 shares of the company’s stock worth $130,030,000 after buying an additional 934,859 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Acco Brands Corp. by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,764,681 shares of the company’s stock worth $55,363,000 after buying an additional 522,374 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Acco Brands Corp. by 11.9% in the first quarter. JPMorgan Chase & Co. now owns 7,029,374 shares of the company’s stock worth $63,124,000 after buying an additional 745,302 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Acco Brands Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,722,240 shares of the company’s stock worth $24,446,000 after buying an additional 23,639 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Acco Brands Corp. by 2.9% in the fourth quarter. OppenheimerFunds Inc. now owns 2,606,434 shares of the company’s stock worth $18,584,000 after buying an additional 72,484 shares in the last quarter.

Shares of Acco Brands Corp. (NYSE:ACCO) traded up 0.09% during midday trading on Thursday, hitting $11.23. The stock had a trading volume of 207,262 shares. The stock has a 50 day moving average price of $10.60 and a 200-day moving average price of $8.76. The stock has a market capitalization of $1.20 billion and a price-to-earnings ratio of 12.81. Acco Brands Corp. has a 52 week low of $5.47 and a 52 week high of $11.29.

Acco Brands Corp. (NYSE:ACCO) last released its quarterly earnings results on Wednesday, April 27th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The firm earned $278 million during the quarter, compared to the consensus estimate of $265 million. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Acco Brands Corp. will post $0.82 earnings per share for the current year.

Separately, Zacks Investment Research lowered Acco Brands Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.

ACCO Brands Corporation is a manufacturer and marketer of office, school and calendar products, and also computer and electronic accessories. It sells its products to consumers and commercial end users through resellers, including traditional office supply resellers, wholesalers and retailers, including online retailers.