ACCO Brands Co. (NYSE:ACCO) SVP Mark C. Anderson sold 38,698 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $13.64, for a total value of $527,840.72. Following the completion of the sale, the senior vice president now owns 75,756 shares in the company, valued at approximately $1,033,311.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of ACCO Brands Co. (NYSE:ACCO) traded up $0.20 during trading hours on Thursday, reaching $13.55. The company’s stock had a trading volume of 199,881 shares, compared to its average volume of 583,931. ACCO Brands Co. has a one year low of $10.35 and a one year high of $14.75. The firm has a market capitalization of $1,422.46, a P/E ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.34. 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 announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. ACCO Brands had a return on equity of 18.31% and a net margin of 6.76%. The company had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. During the same period in the previous year, the company posted $0.32 earnings per share. ACCO Brands’s revenue for the quarter was up 29.5% on a year-over-year basis. equities research analysts anticipate that ACCO Brands Co. will post 1.35 EPS for the current year.
ACCO Brands declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a Not Available dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st will be issued a $0.06 dividend. The ex-dividend date is Wednesday, February 28th.
A number of large investors have recently made changes to their positions in ACCO. New York State Common Retirement Fund lifted its holdings in ACCO Brands by 5.0% in the second quarter. New York State Common Retirement Fund now owns 114,300 shares of the industrial products company’s stock valued at $1,332,000 after acquiring an additional 5,399 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in ACCO Brands by 148.8% in the second quarter. UBS Asset Management Americas Inc. now owns 51,735 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 30,939 shares during the period. Vanguard Group Inc. lifted its holdings in ACCO Brands by 0.5% in the second quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock valued at $113,200,000 after acquiring an additional 50,566 shares during the period. Voya Investment Management LLC lifted its holdings in ACCO Brands by 9.7% in the second quarter. Voya Investment Management LLC now owns 50,046 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 4,429 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in ACCO Brands by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 83,528 shares of the industrial products company’s stock valued at $974,000 after acquiring an additional 1,442 shares during the period. 90.39% of the stock is owned by institutional investors.
A number of brokerages recently commented on ACCO. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, February 16th. SunTrust Banks reiterated a “hold” rating and issued a $13.00 target price on shares of ACCO Brands in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.33.
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About ACCO Brands
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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