Neal V. Fenwick Acquires 12,313 Shares of Acco Brands Corporation (NYSE:ACCO) Stock
Acco Brands Corporation (NYSE:ACCO) VP Neal V. Fenwick purchased 12,313 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $10.60 per share, with a total value of $130,517.80. Following the acquisition, the vice president now owns 423,311 shares in the company, valued at $4,487,096.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Acco Brands Corporation (ACCO) traded up 3.440% during trading on Monday, hitting $11.275. The stock had a trading volume of 645,940 shares. Acco Brands Corporation has a 52 week low of $9.06 and a 52 week high of $14.75. The company’s 50-day moving average is $11.69 and its 200 day moving average is $12.57. The firm has a market cap of $1.23 billion, a PE ratio of 22.460 and a beta of 1.30.
Acco Brands Corporation (NYSE:ACCO) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490 million for the quarter, compared to analyst estimates of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Equities analysts expect that Acco Brands Corporation will post $1.10 EPS for the current fiscal year.
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ACCO has been the subject of a number of analyst reports. Zacks Investment Research cut Acco Brands Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub upgraded Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. ValuEngine upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating in a report on Thursday, May 18th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Acco Brands Corporation in a report on Tuesday, July 4th.
A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in Acco Brands Corporation by 2.9% in the second quarter. American Century Companies Inc. now owns 441,934 shares of the industrial products company’s stock worth $5,149,000 after buying an additional 12,322 shares during the period. Victory Capital Management Inc. raised its stake in Acco Brands Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,558 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,433 shares during the period. Virginia Retirement Systems ET AL raised its stake in Acco Brands Corporation by 4.0% in the second quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the industrial products company’s stock worth $122,000 after buying an additional 400 shares during the period. Marshall Wace North America L.P. acquired a new stake in Acco Brands Corporation during the second quarter worth about $3,266,000. Finally, KBC Group NV raised its stake in Acco Brands Corporation by 37.8% in the second quarter. KBC Group NV now owns 46,199 shares of the industrial products company’s stock worth $538,000 after buying an additional 12,661 shares during the period. 91.39% of the stock is currently owned by hedge funds and other institutional investors.
Acco Brands Corporation 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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