ACCO Brands Co. (NYSE:ACCO) SVP Joseph S. Pekala sold 20,473 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $13.52, for a total value of $276,794.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of ACCO Brands traded down $0.05, hitting $13.15, during midday trading on Thursday, according to Marketbeat Ratings. The company had a trading volume of 17,619 shares, compared to its average volume of 531,004. The stock has a market capitalization of $1.45 billion, a PE ratio of 10.97, a PEG ratio of 1.00 and a beta of 1.29. ACCO Brands Co. has a 1 year low of $10.35 and a 1 year high of $13.98. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.00 and a current ratio of 1.60.
ACCO Brands (NYSE:ACCO) last posted its earnings results on Tuesday, May 1st. The industrial products company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $405.80 million during the quarter, compared to analysts’ expectations of $386.94 million. ACCO Brands had a return on equity of 18.22% and a net margin of 6.94%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. analysts predict that ACCO Brands Co. will post 1.36 EPS for the current year.
ACCO Brands announced that its board has authorized a stock repurchase program on Wednesday, February 14th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts have recently issued reports on ACCO shares. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, February 16th. ValuEngine upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, March 17th. Barrington Research reiterated a “buy” rating and issued a $16.00 price objective on shares of ACCO Brands in a research note on Thursday. Noble Financial started coverage on ACCO Brands in a research note on Wednesday, May 2nd. They issued a “buy” rating for the company. Finally, BWS Financial set a $18.00 price objective on ACCO Brands and gave the company a “buy” rating in a research note on Tuesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $15.00.
A number of hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in ACCO Brands during the first quarter worth approximately $144,000. Koch Industries Inc. acquired a new position in ACCO Brands during the first quarter worth approximately $153,000. Highbridge Capital Management LLC acquired a new position in ACCO Brands during the first quarter worth approximately $155,000. Bayesian Capital Management LP acquired a new position in ACCO Brands during the first quarter worth approximately $170,000. Finally, Xact Kapitalforvaltning AB acquired a new position in ACCO Brands during the fourth quarter worth approximately $189,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
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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