Teacher Retirement System of Texas bought a new stake in shares of ACCO Brands (NYSE:ACCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,203 shares of the industrial products company’s stock, valued at approximately $454,000.
A number of other hedge funds have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its position in shares of ACCO Brands by 78.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 4,002 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $120,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $136,000. Oppenheimer Asset Management Inc. boosted its position in shares of ACCO Brands by 92.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 5,938 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of ACCO Brands by 53.9% in the 3rd quarter. Victory Capital Management Inc. now owns 14,714 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 5,156 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.
NYSE ACCO traded down $0.20 during trading on Friday, reaching $12.85. 357,237 shares of the company’s stock were exchanged, compared to its average volume of 578,916. ACCO Brands has a fifty-two week low of $10.35 and a fifty-two week high of $14.75. The firm has a market capitalization of $1,367.32, a PE ratio of 10.80, a PEG ratio of 0.95 and a beta of 1.28. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.15.
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, topping the Zacks’ consensus estimate of $0.44 by $0.04. ACCO Brands had a return on equity of 17.97% and a net margin of 6.76%. The firm had revenue of $566.80 million during the quarter, compared to analyst estimates of $563.27 million. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. research analysts anticipate that ACCO Brands will post 1.35 EPS for the current year.
ACCO Brands announced that its board has authorized a share buyback program on Wednesday, February 14th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a Not Available dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, February 28th. ACCO Brands’s payout ratio is presently 20.17%.
In other news, CAO Kathy D. Schnaedter sold 8,178 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $13.05, for a total transaction of $106,722.90. Following the completion of the sale, the chief accounting officer now directly owns 72,299 shares of the company’s stock, valued at approximately $943,501.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Boris Elisman sold 47,600 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $13.83, for a total value of $658,308.00. Following the sale, the chief executive officer now directly owns 625,809 shares of the company’s stock, valued at $8,654,938.47. The disclosure for this sale can be found here. Insiders have sold a total of 451,058 shares of company stock valued at $6,058,908 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.
A number of research firms recently weighed in on ACCO. ValuEngine lowered ACCO Brands from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered ACCO Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.33.
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ACCO Brands Profile
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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