Acco Brands Corporation (NYSE:ACCO) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Acco Brands Corporation (NYSE:ACCO) issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04, Bloomberg Earnings reports. The business had revenue of $490 million for the quarter, compared to the consensus estimate of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Acco Brands Corporation updated its FY17 guidance to $1.07-1.10 EPS.

Acco Brands Corporation (NYSE:ACCO) opened at 10.75 on Friday. The firm has a market capitalization of $1.17 billion, a P/E ratio of 21.41 and a beta of 1.30. The company has a 50 day moving average price of $11.50 and a 200 day moving average price of $12.41. Acco Brands Corporation has a 52-week low of $9.06 and a 52-week high of $14.75.

In other news, SVP Kathy D. Schnaedter sold 68,653 shares of Acco Brands Corporation stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total transaction of $773,032.78. Following the completion of the sale, the senior vice president now directly owns 68,655 shares of the company’s stock, valued at approximately $773,055.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Neal V. Fenwick acquired 12,313 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average cost of $10.60 per share, with a total value of $130,517.80. Following the completion of the transaction, the vice president now owns 423,311 shares in the company, valued at approximately $4,487,096.60. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Acco Brands Corporation by 16,978.3% in the first quarter. BlackRock Inc. now owns 7,403,606 shares of the industrial products company’s stock valued at $97,358,000 after buying an additional 7,360,255 shares in the last quarter. Boston Partners bought a new stake in shares of Acco Brands Corporation during the second quarter valued at approximately $20,976,000. Teachers Advisors LLC raised its stake in shares of Acco Brands Corporation by 196.3% in the fourth quarter. Teachers Advisors LLC now owns 1,045,492 shares of the industrial products company’s stock valued at $13,644,000 after buying an additional 692,590 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of Acco Brands Corporation by 493.6% in the first quarter. Systematic Financial Management LP now owns 796,030 shares of the industrial products company’s stock valued at $10,468,000 after buying an additional 661,930 shares in the last quarter. Finally, Boston Advisors LLC bought a new stake in shares of Acco Brands Corporation during the first quarter valued at approximately $5,708,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.

A number of equities analysts have recently issued reports on ACCO shares. BWS Financial reaffirmed a “buy” rating and set a $18.00 price target on shares of Acco Brands Corporation in a research report on Tuesday, July 4th. ValuEngine raised Acco Brands Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. BidaskClub downgraded Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded Acco Brands Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th.

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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.

Earnings History for Acco Brands Corporation (NYSE:ACCO)

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