Bailard Inc. increased its holdings in ACCO Brands Co. (NYSE:ACCO) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,800 shares of the industrial products company’s stock after purchasing an additional 8,900 shares during the quarter. Bailard Inc.’s holdings in ACCO Brands were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of ACCO. IndexIQ Advisors LLC lifted its holdings in ACCO Brands by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 181,135 shares of the industrial products company’s stock worth $2,047,000 after buying an additional 6,842 shares during the period. California Public Employees Retirement System lifted its holdings in ACCO Brands by 16.4% in the second quarter. California Public Employees Retirement System now owns 278,516 shares of the industrial products company’s stock worth $3,857,000 after buying an additional 39,195 shares during the period. BlueMountain Capital Management LLC lifted its holdings in ACCO Brands by 31.9% in the third quarter. BlueMountain Capital Management LLC now owns 92,492 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 22,343 shares during the period. ICM Asset Management Inc. WA lifted its holdings in ACCO Brands by 35.6% in the third quarter. ICM Asset Management Inc. WA now owns 139,000 shares of the industrial products company’s stock worth $1,571,000 after buying an additional 36,500 shares during the period. Finally, Jane Street Group LLC purchased a new stake in ACCO Brands in the third quarter worth about $170,000. 91.55% of the stock is currently owned by institutional investors.
ACCO has been the subject of several research analyst reports. Zacks Investment Research lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Barrington Research restated a “buy” rating and issued a $13.00 price objective on shares of ACCO Brands in a report on Tuesday. Finally, TheStreet lowered shares of ACCO Brands from a “b-” rating to a “c+” rating in a report on Friday, November 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.25.
ACCO Brands (NYSE:ACCO) last released its earnings results on Wednesday, February 13th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. The business had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $553.42 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. ACCO Brands’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts predict that ACCO Brands Co. will post 1.17 EPS for the current year.
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ACCO Brands Company Profile
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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