Teacher Retirement System of Texas purchased a new stake in shares of ACCO Brands Co. (NYSE:ACCO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 37,203 shares of the industrial products company’s stock, valued at approximately $454,000.
A number of other large investors also recently added to or reduced their stakes in ACCO. First Trust Advisors LP raised its holdings in ACCO Brands by 22.9% during the 3rd quarter. First Trust Advisors LP now owns 213,107 shares of the industrial products company’s stock valued at $2,536,000 after buying an additional 39,640 shares during the period. Victory Capital Management Inc. raised its holdings in ACCO Brands by 53.9% during the 3rd quarter. Victory Capital Management Inc. now owns 14,714 shares of the industrial products company’s stock valued at $175,000 after buying an additional 5,156 shares during the period. American Century Companies Inc. raised its holdings in ACCO Brands by 3.9% during the 3rd quarter. American Century Companies Inc. now owns 459,084 shares of the industrial products company’s stock valued at $5,463,000 after buying an additional 17,150 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in ACCO Brands by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock valued at $100,000 after buying an additional 4,002 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in ACCO Brands by 16.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,268,126 shares of the industrial products company’s stock valued at $15,089,000 after buying an additional 180,698 shares during the period. Institutional investors own 94.97% of the company’s stock.
In other news, SVP Gregory J. Mccormack sold 14,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $12.57, for a total transaction of $175,980.00. Following the transaction, the senior vice president now owns 108,517 shares of the company’s stock, valued at approximately $1,364,058.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Kathy D. Schnaedter sold 8,178 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $13.05, for a total value of $106,722.90. Following the transaction, the chief accounting officer now directly owns 72,299 shares in the company, valued at approximately $943,501.95. The disclosure for this sale can be found here. Insiders sold a total of 451,058 shares of company stock worth $6,058,908 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.
ACCO Brands Co. (NYSE ACCO) opened at $13.30 on Friday. The company has a market capitalization of $1,404.57, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.54 and a quick ratio of 1.07. ACCO Brands Co. has a 12-month low of $10.35 and a 12-month high of $14.75.
ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $563.27 million. ACCO Brands had a return on equity of 17.97% and a net margin of 6.76%. ACCO Brands’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. equities research analysts expect that ACCO Brands Co. will post 1.35 earnings per share for the current fiscal year.
ACCO Brands declared that its board has initiated a share repurchase program 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. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a Not Available dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. ACCO Brands’s dividend payout ratio (DPR) is presently 20.00%.
Several research firms recently weighed in on ACCO. ValuEngine upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research lowered ACCO Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.33.
ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/03/17/37203-shares-in-acco-brands-co-acco-acquired-by-teacher-retirement-system-of-texas.html.
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.
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.