Horizon Investment Services LLC Has $196,000 Position in Acco Brands Corporation (ACCO)
Horizon Investment Services LLC reduced its stake in Acco Brands Corporation (NYSE:ACCO) by 29.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,812 shares of the industrial products company’s stock after selling 6,918 shares during the quarter. Horizon Investment Services LLC’s holdings in Acco Brands Corporation were worth $196,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Acco Brands Corporation by 8.3% in the 1st quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock valued at $107,000 after buying an additional 625 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Acco Brands Corporation in the 1st quarter valued at $112,000. New York State Teachers Retirement System raised its position in Acco Brands Corporation by 1.1% in the 1st 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 last quarter. Virginia Retirement Systems ET AL purchased a new stake in Acco Brands Corporation in the 1st quarter valued at $133,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Acco Brands Corporation by 24.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,461 shares of the industrial products company’s stock valued at $122,000 after buying an additional 2,026 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. ValuEngine lowered Acco Brands Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub raised Acco Brands Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Zacks Investment Research lowered Acco Brands Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, BWS Financial reissued a “buy” rating and issued a $18.00 price target on shares of Acco Brands Corporation in a research report on Tuesday, July 4th.
Shares of Acco Brands Corporation (NYSE:ACCO) traded up 0.198% during midday trading on Thursday, hitting $12.625. The stock had a trading volume of 73,933 shares. The stock has a market cap of $1.37 billion, a PE ratio of 25.149 and a beta of 1.40. Acco Brands Corporation has a 12 month low of $9.06 and a 12 month high of $14.75. The stock’s 50-day moving average is $11.34 and its 200-day moving average is $12.01.
Acco Brands Corporation (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The firm had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $497.17 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Equities analysts anticipate that Acco Brands Corporation will post $1.10 EPS for the current year.
In other news, insider Gregory J. Mccormack sold 25,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the completion of the transaction, the insider now owns 63,889 shares in the company, valued at $699,584.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neal V. Fenwick purchased 12,313 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $10.60 per share, with a total value of $130,517.80. Following the purchase, the vice president now directly owns 423,311 shares of the company’s stock, valued at $4,487,096.60. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.
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About Acco Brands Corporation
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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