BidaskClub downgraded shares of Acco Brands Corporation (NYSE:ACCO) from a sell rating to a strong sell rating in a research note released on Friday, July 28th.
ACCO has been the topic of a number of other reports. BWS Financial restated a buy rating and issued a $18.00 target price on shares of Acco Brands Corporation in a report on Thursday, April 6th. Zacks Investment Research downgraded shares of Acco Brands Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded shares of Acco Brands Corporation from a hold rating to a buy rating in a report on Thursday, May 18th.
Acco Brands Corporation (ACCO) traded down 0.670% during mid-day trading on Friday, reaching $11.125. 531,851 shares of the company’s stock traded hands. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 22.161 and a beta of 1.30. The firm’s 50-day moving average price is $11.69 and its 200 day moving average price is $12.57. Acco Brands Corporation has a one year low of $9.06 and a one year high of $14.75.
Acco Brands Corporation (NYSE:ACCO) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Acco Brands Corporation had a net margin of 3.25% and a return on equity of 15.03%. The firm had revenue of $490 million for the quarter, compared to the consensus estimate of $497.17 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Acco Brands Corporation will post $1.10 EPS for the current year.
In other news, VP Neal V. Fenwick purchased 12,313 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $10.60 per share, with a total value of $130,517.80. Following the purchase, the vice president now owns 423,311 shares in the company, valued at $4,487,096.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kathy D. Schnaedter sold 68,653 shares of Acco Brands Corporation stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $11.26, for a total transaction of $773,032.78. Following the transaction, the senior vice president now directly owns 68,655 shares of the company’s stock, valued at $773,055.30. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Acco Brands Corporation by 8.3% in the first quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock worth $107,000 after buying an additional 625 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Acco Brands Corporation by 45.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,435 shares of the industrial products company’s stock valued at $111,000 after buying an additional 2,617 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Acco Brands Corporation during the first quarter valued at about $112,000. Virginia Retirement Systems ET AL boosted its stake in Acco Brands Corporation by 4.0% in the second quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the industrial products company’s stock valued at $122,000 after buying an additional 400 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Acco Brands Corporation by 1.1% in the first quarter. New York State Teachers Retirement System now owns 9,400 shares of the industrial products company’s stock valued at $124,000 after buying an additional 100 shares during the period. 91.39% of the stock is owned by hedge funds and other institutional investors.
Acco Brands Corporation Company 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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