ACCO Brands Co. (NYSE:ACCO) CEO Boris Elisman sold 47,600 shares of ACCO Brands stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $13.83, for a total transaction of $658,308.00. Following the sale, the chief executive officer now owns 625,809 shares in the company, valued at approximately $8,654,938.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ACCO Brands Co. (ACCO) opened at $13.35 on Wednesday. The stock has a market cap of $1,454.42, a P/E ratio of 11.57, a PEG ratio of 1.01 and a beta of 1.34. ACCO Brands Co. has a 12 month low of $10.35 and a 12 month high of $14.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $563.27 million. ACCO Brands had a net margin of 6.76% and a return on equity of 18.31%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. sell-side analysts forecast that ACCO Brands Co. will post 1.35 EPS for the current fiscal year.
The company also recently disclosed a Not Available dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, February 28th.
ACCO Brands announced that its board has initiated a share repurchase plan on Wednesday, February 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
ACCO has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. SunTrust Banks reiterated a “hold” rating and set a $13.00 price objective on shares of ACCO Brands in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $15.33.
Several institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its stake in shares of ACCO Brands by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock worth $100,000 after buying an additional 4,002 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of ACCO Brands by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 9,496 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,014 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of ACCO Brands in the third quarter worth $120,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of ACCO Brands in the third quarter worth $136,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of ACCO Brands by 25.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 12,658 shares of the industrial products company’s stock worth $147,000 after buying an additional 2,571 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.
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ACCO Brands Company 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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