Gargoyle Investment Advisor L.L.C. decreased its stake in shares of Acco Brands Corp. (NYSE:ACCO) by 39.8% during the second quarter, Holdings Channel reports. The firm owned 47,240 shares of the company’s stock after selling 31,200 shares during the period. Gargoyle Investment Advisor L.L.C.’s holdings in Acco Brands Corp. were worth $488,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Acco Brands Corp. by 6.0% in the first quarter. Franklin Resources Inc. now owns 609,680 shares of the company’s stock valued at $5,475,000 after buying an additional 34,680 shares during the period. BlackRock Group LTD boosted its position in shares of Acco Brands Corp. by 15.6% in the first quarter. BlackRock Group LTD now owns 99,160 shares of the company’s stock valued at $890,000 after buying an additional 13,359 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Acco Brands Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,722,240 shares of the company’s stock valued at $24,446,000 after buying an additional 23,639 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Acco Brands Corp. by 11.9% in the first quarter. JPMorgan Chase & Co. now owns 7,029,374 shares of the company’s stock valued at $63,124,000 after buying an additional 745,302 shares during the period. Finally, Acrospire Investment Management LLC bought a new position in shares of Acco Brands Corp. during the first quarter valued at $310,000. Institutional investors and hedge funds own 94.21% of the company’s stock.
Acco Brands Corp. (NYSE:ACCO) traded up 1.04% during midday trading on Thursday, hitting $9.69. The stock had a trading volume of 327,006 shares. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 8.03 and a beta of 1.96. Acco Brands Corp. has a 52 week low of $5.47 and a 52 week high of $11.75. The firm has a 50 day moving average of $9.86 and a 200 day moving average of $9.89.
Acco Brands Corp. (NYSE:ACCO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Acco Brands Corp. had a return on equity of 14.64% and a net margin of 8.63%. The firm had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $390.75 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that Acco Brands Corp. will post $0.83 EPS for the current year.
Separately, Zacks Investment Research cut Acco Brands Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
About Acco Brands Corp.
ACCO Brands Corporation is a manufacturer and marketer of office, school and calendar products, and also computer and electronic accessories. It sells its products to consumers and commercial end users through resellers, including traditional office supply resellers, wholesalers and retailers, including online retailers.
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