Ameriprise Financial Inc. grew its holdings in shares of ACCO Brands Co. (NYSE:ACCO) by 35.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 832,693 shares of the industrial products company’s stock after buying an additional 216,020 shares during the period. Ameriprise Financial Inc. owned 0.78% of ACCO Brands worth $9,911,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eqis Capital Management Inc. raised its holdings in shares of ACCO Brands by 37.2% during the third quarter. Eqis Capital Management Inc. now owns 21,931 shares of the industrial products company’s stock valued at $261,000 after buying an additional 5,945 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ACCO Brands by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 7,126,210 shares of the industrial products company’s stock worth $83,019,000 after purchasing an additional 89,746 shares in the last quarter. American Century Companies Inc. raised its holdings in ACCO Brands by 2.9% during the second quarter. American Century Companies Inc. now owns 441,934 shares of the industrial products company’s stock worth $5,149,000 after purchasing an additional 12,322 shares in the last quarter. Vanguard Group Inc. raised its holdings in ACCO Brands by 0.5% during the second quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock worth $113,200,000 after purchasing an additional 50,566 shares in the last quarter. Finally, Numeric Investors LLC bought a new stake in ACCO Brands during the second quarter worth approximately $362,000. 91.17% of the stock is currently owned by institutional investors.
Several brokerages recently commented on ACCO. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, October 31st. SunTrust Banks reissued a “hold” rating and set a $13.00 target price on shares of ACCO Brands in a report on Wednesday, November 1st. Finally, BidaskClub raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $15.00.
ACCO Brands Co. (ACCO) traded up $0.15 during midday trading on Friday, hitting $12.80. The company’s stock had a trading volume of 378,872 shares, compared to its average volume of 393,430. The company has a market capitalization of $1,360.00, a PE ratio of 22.46, a P/E/G ratio of 0.95 and a beta of 1.50. ACCO Brands Co. has a 52 week low of $10.35 and a 52 week high of $14.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.70 and a quick ratio of 1.09.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $529.65 million. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. sell-side analysts predict that ACCO Brands Co. will post 1.15 earnings per share for the current year.
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ACCO Brands 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.
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