ACCO Brands Co. (NYSE:ACCO) SVP Pamela R. Schneider sold 43,281 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $13.53, for a total value of $585,591.93. Following the transaction, the senior vice president now directly owns 42,608 shares of the company’s stock, valued at $576,486.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of ACCO Brands Co. (ACCO) traded down $0.10 during trading hours on Tuesday, hitting $13.15. The stock had a trading volume of 278,645 shares, compared to its average volume of 589,456. ACCO Brands Co. has a one year low of $10.35 and a one year high of $14.75. The firm has a market cap of $1,415.21, a P/E ratio of 10.96, a PEG ratio of 0.98 and a beta of 1.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.54 and a quick ratio of 1.07.
ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. ACCO Brands had a return on equity of 17.97% and a net margin of 6.76%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. research analysts expect that ACCO Brands Co. will post 1.35 earnings per share for the current fiscal year.
ACCO Brands announced that its board has initiated a share buyback plan on Wednesday, February 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, January 3rd. ValuEngine raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $15.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACCO. Xact Kapitalforvaltning AB acquired a new position in ACCO Brands during the fourth quarter worth $189,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in ACCO Brands during the fourth quarter worth $1,903,000. MetLife Investment Advisors LLC acquired a new position in ACCO Brands during the fourth quarter worth $534,000. Gotham Asset Management LLC acquired a new position in ACCO Brands during the fourth quarter worth $552,000. Finally, Jane Street Group LLC acquired a new position in ACCO Brands during the fourth quarter worth $212,000. Institutional investors own 94.93% of the company’s stock.
ACCO Brands Company Profile
ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.
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