Prudential Financial Inc. reduced its stake in shares of Acco Brands Corp. (NYSE:ACCO) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 552,326 shares of the company’s stock after selling 50,300 shares during the period. Prudential Financial Inc. owned about 0.52% of Acco Brands Corp. worth $5,706,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in ACCO. Franklin Resources Inc. increased its position in 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 in the last quarter. BlackRock Group LTD boosted its stake 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 worth $890,000 after buying an additional 13,359 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake 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 worth $24,446,000 after buying an additional 23,639 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 worth $63,124,000 after buying an additional 745,302 shares during the last quarter. Finally, Landscape Capital Management L.L.C. boosted its stake in shares of Acco Brands Corp. by 38.3% in the first quarter. Landscape Capital Management L.L.C. now owns 89,900 shares of the company’s stock worth $807,000 after buying an additional 24,900 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Acco Brands Corp. (NYSE:ACCO) opened at 9.35 on Wednesday. The company has a market cap of $1.00 billion, a PE ratio of 7.75 and a beta of 1.96. Acco Brands Corp. has a 12-month low of $5.47 and a 12-month high of $11.75. The stock has a 50 day moving average of $9.81 and a 200-day moving average of $9.92.
Acco Brands Corp. (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The firm earned $410.10 million during the quarter, compared to the consensus estimate of $390.75 million. Acco Brands Corp. had a return on equity of 14.64% and a net margin of 8.63%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, equities research analysts anticipate that Acco Brands Corp. will post $0.83 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of Acco Brands Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, August 4th.
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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