Algert Global LLC raised its stake in shares of Acco Brands Corp. (NYSE:ACCO) by 13.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,545 shares of the company’s stock after buying an additional 15,973 shares during the period. Algert Global LLC’s holdings in Acco Brands Corp. were worth $1,258,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Acco Brands Corp. by 6.9% in the first quarter. Wellington Management Group LLP now owns 14,479,971 shares of the company’s stock worth $130,030,000 after buying an additional 934,859 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Acco Brands Corp. by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,072,739 shares of the company’s stock worth $93,719,000 after buying an additional 726,544 shares during the period. Vanguard Group Inc. raised its position in shares of Acco Brands Corp. by 5.9% in the second quarter. Vanguard Group Inc. now owns 9,028,339 shares of the company’s stock worth $93,263,000 after buying an additional 504,681 shares during the period. JPMorgan Chase & Co. raised 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 worth $63,124,000 after buying an additional 745,302 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Acco Brands Corp. by 5.5% in the first quarter. Royal Bank of Canada now owns 5,722,751 shares of the company’s stock worth $51,390,000 after buying an additional 296,327 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Shares of Acco Brands Corp. (NYSE:ACCO) opened at 9.21 on Friday. Acco Brands Corp. has a 12 month low of $5.47 and a 12 month high of $11.75. The company’s 50-day moving average price is $9.76 and its 200-day moving average price is $9.91. The firm has a market cap of $987.25 million, a P/E ratio of 7.63 and a beta of 1.96.
Acco Brands Corp. (NYSE:ACCO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $390.75 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Acco Brands Corp. will post $0.83 EPS for the current year.
Separately, Zacks Investment Research raised Acco Brands Corp. from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, August 4th.
Acco Brands Corp. Company Profile
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.
Want to see what other hedge funds are holding ACCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acco Brands Corp. (NYSE:ACCO).
Receive News & Ratings for Acco Brands Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acco Brands Corp. and related companies with MarketBeat.com's FREE daily email newsletter.