Voya Investment Management LLC boosted its position in ACCO Brands Corporation (NYSE:ACCO) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,046 shares of the industrial products company’s stock after buying an additional 4,429 shares during the period. Voya Investment Management LLC’s holdings in ACCO Brands Corporation were worth $583,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in ACCO Brands Corporation by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,193,361 shares of the industrial products company’s stock valued at $107,102,000 after buying an additional 108,304 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in ACCO Brands Corporation in the 2nd quarter valued at about $285,000. Nordea Investment Management AB increased its position in ACCO Brands Corporation by 8.2% in the 2nd quarter. Nordea Investment Management AB now owns 732,281 shares of the industrial products company’s stock valued at $8,531,000 after buying an additional 55,266 shares in the last quarter. Suntrust Banks Inc. increased its position in ACCO Brands Corporation by 0.6% in the 2nd quarter. Suntrust Banks Inc. now owns 53,422 shares of the industrial products company’s stock valued at $622,000 after buying an additional 313 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in ACCO Brands Corporation by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock valued at $113,200,000 after buying an additional 50,566 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.
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In other news, insider Gregory J. Mccormack sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the transaction, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by insiders.
Shares of ACCO Brands Corporation (NYSE:ACCO) opened at $12.85 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.52. ACCO Brands Corporation has a twelve month low of $10.35 and a twelve month high of $14.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.14 and a current ratio of 1.70.
ACCO Brands Corporation (NYSE:ACCO) last announced its quarterly earnings data on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $532.20 million for the quarter, compared to the consensus estimate of $529.65 million. ACCO Brands Corporation had a return on equity of 15.99% and a net margin of 3.51%. The firm’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. sell-side analysts predict that ACCO Brands Corporation will post 1.15 earnings per share for the current fiscal year.
A number of analysts recently commented on ACCO shares. Zacks Investment Research raised ACCO Brands Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, October 3rd. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $13.00 target price on shares of ACCO Brands Corporation in a research report on Wednesday. BidaskClub lowered ACCO Brands Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, ValuEngine raised ACCO Brands Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. ACCO Brands Corporation currently has a consensus rating of “Buy” and an average price target of $15.33.
ACCO Brands Corporation 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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