Acco Brands Corporation (ACCO) Holdings Trimmed by Alliancebernstein L.P.
Alliancebernstein L.P. lowered its holdings in shares of Acco Brands Corporation (NYSE:ACCO) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,799 shares of the industrial products company’s stock after selling 17,900 shares during the period. Alliancebernstein L.P. owned approximately 0.24% of Acco Brands Corporation worth $3,038,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Acco Brands Corporation by 8.3% during the 1st quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 625 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Acco Brands Corporation during the 1st quarter valued at $112,000. Benjamin F. Edwards & Company Inc. raised its stake in Acco Brands Corporation by 24.0% during 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 acquiring an additional 2,026 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in Acco Brands Corporation by 4.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 400 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Acco Brands Corporation by 1.1% during 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 acquiring an additional 100 shares in the last quarter. 91.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Acco Brands Corporation (ACCO) opened at 12.60 on Wednesday. The company has a market cap of $1.37 billion, a P/E ratio of 25.10 and a beta of 1.40. The stock has a 50 day moving average price of $11.54 and a 200-day moving average price of $11.98. Acco Brands Corporation has a 1-year low of $9.06 and a 1-year high of $14.75.
Acco Brands Corporation (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490.00 million for the quarter, compared to analyst estimates of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. Analysts predict that Acco Brands Corporation will post $1.10 earnings per share for the current fiscal year.
In other news, VP Neal V. Fenwick acquired 12,313 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $10.60 per share, for a total transaction of $130,517.80. Following the transaction, the vice president now owns 423,311 shares of the company’s stock, valued at $4,487,096.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gregory J. Mccormack sold 25,000 shares of the stock in a transaction on Thursday, August 17th. The shares were 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 disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION WARNING: “Acco Brands Corporation (ACCO) Holdings Trimmed by Alliancebernstein L.P.” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/11/acco-brands-corporation-acco-holdings-trimmed-by-alliancebernstein-l-p.html.
Several brokerages have weighed in on ACCO. BidaskClub raised Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, October 3rd. ValuEngine raised Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, BWS Financial reaffirmed a “buy” rating and set a $18.00 target price on shares of Acco Brands Corporation in a research note on Tuesday, July 4th.
Acco Brands Corporation 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.
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 Corporation (NYSE:ACCO).
Receive News & Stock Ratings for Acco Brands Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acco Brands Corporation and related stocks with our FREE daily email newsletter.