QS Investors LLC reduced its stake in Acco Brands Corporation (NYSE:ACCO) by 21.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 197,082 shares of the industrial products company’s stock after selling 52,552 shares during the quarter. QS Investors LLC owned approximately 0.18% of Acco Brands Corporation worth $2,296,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Numeric Investors LLC acquired a new position in shares of Acco Brands Corporation during the second quarter worth approximately $362,000. Voya Investment Management LLC lifted its holdings in shares of Acco Brands Corporation by 9.7% during the second quarter. Voya Investment Management LLC now owns 50,046 shares of the industrial products company’s stock worth $583,000 after buying an additional 4,429 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Acco Brands Corporation by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,193,361 shares of the industrial products company’s stock worth $107,102,000 after buying an additional 108,304 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Acco Brands Corporation during the second quarter worth approximately $285,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Acco Brands Corporation by 8.2% during the second quarter. Nordea Investment Management AB now owns 732,281 shares of the industrial products company’s stock worth $8,531,000 after buying an additional 55,266 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
Shares of Acco Brands Corporation (NYSE ACCO) opened at 13.00 on Tuesday. The firm has a 50-day moving average price of $11.74 and a 200-day moving average price of $11.98. Acco Brands Corporation has a 12 month low of $9.06 and a 12 month high of $14.75. The company has a market capitalization of $1.41 billion, a PE ratio of 25.90 and a beta of 1.40.
Acco Brands Corporation (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that Acco Brands Corporation will post $1.10 EPS for the current year.
In other news, VP Neal V. Fenwick acquired 12,313 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $10.60 per share, with a total value of $130,517.80. Following the transaction, the vice president now owns 423,311 shares in the company, valued at approximately $4,487,096.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory J. Mccormack sold 25,000 shares of Acco Brands Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $10.95, for a total value of $273,750.00. Following the sale, the insider now directly owns 63,889 shares in the company, valued at $699,584.55. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.
A number of research analysts have recently commented on ACCO shares. Zacks Investment Research upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, October 3rd. BWS Financial restated a “buy” rating and issued a $18.00 target price on shares of Acco Brands Corporation in a research note on Tuesday, July 4th. BidaskClub lowered Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, ValuEngine upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd.
About Acco Brands Corporation
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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