GSA Capital Partners LLP increased its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 81.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 76,335 shares of the industrial products company’s stock after acquiring an additional 34,321 shares during the period. GSA Capital Partners LLP owned about 0.07% of ACCO Brands worth $908,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. California Public Employees Retirement System raised its position in ACCO Brands by 6.0% during the 3rd quarter. California Public Employees Retirement System now owns 265,090 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 15,065 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in ACCO Brands by 92.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 5,938 shares in the last quarter. Magnetar Financial LLC bought a new stake in ACCO Brands during the 3rd quarter valued at $200,000. Hotchkis & Wiley Capital Management LLC bought a new stake in ACCO Brands during the 3rd quarter valued at $136,000. Finally, Schwab Charles Investment Management Inc. raised its position in ACCO Brands by 8.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,075,811 shares of the industrial products company’s stock valued at $12,803,000 after purchasing an additional 82,306 shares in the last quarter. 91.17% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on ACCO. SunTrust Banks reiterated a “hold” rating and issued a $13.00 price target on shares of ACCO Brands in a report on Wednesday, November 1st. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, October 31st. Finally, BidaskClub upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.33.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The company had revenue of $532.20 million during the quarter, compared to analysts’ expectations of $529.65 million. During the same quarter in the prior year, the firm posted $0.29 EPS. ACCO Brands’s quarterly revenue was up 23.4% compared to the same quarter last year. equities research analysts forecast that ACCO Brands Co. will post 1.15 earnings per share for the current year.
About ACCO Brands
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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