Public Employees Retirement System of Ohio Acquires 45,277 Shares of ACCO Brands Co. (ACCO)

Public Employees Retirement System of Ohio grew its holdings in ACCO Brands Co. (NYSE:ACCO) by 91.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,673 shares of the industrial products company’s stock after buying an additional 45,277 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.09% of ACCO Brands worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. California Public Employees Retirement System lifted its holdings in shares of ACCO Brands by 16.4% in the 2nd quarter. California Public Employees Retirement System now owns 278,516 shares of the industrial products company’s stock worth $3,857,000 after acquiring an additional 39,195 shares during the last quarter. Zebra Capital Management LLC lifted its holdings in ACCO Brands by 30.7% during the 2nd quarter. Zebra Capital Management LLC now owns 78,784 shares of the industrial products company’s stock valued at $1,091,000 after buying an additional 18,488 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in ACCO Brands during the 2nd quarter valued at about $881,000. MetLife Investment Advisors LLC lifted its holdings in ACCO Brands by 11.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 48,975 shares of the industrial products company’s stock valued at $678,000 after buying an additional 5,210 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in ACCO Brands by 8.5% during the 2nd quarter. Macquarie Group Ltd. now owns 158,458 shares of the industrial products company’s stock valued at $2,195,000 after buying an additional 12,458 shares in the last quarter. 89.54% of the stock is owned by institutional investors and hedge funds.

Shares of ACCO opened at $10.20 on Friday. ACCO Brands Co. has a 1-year low of $10.13 and a 1-year high of $14.63. The stock has a market cap of $1.21 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.74 and a quick ratio of 1.15.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). ACCO Brands had a net margin of 7.02% and a return on equity of 17.95%. The company had revenue of $498.80 million for the quarter, compared to the consensus estimate of $493.85 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts forecast that ACCO Brands Co. will post 1.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Friday, August 31st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 2.35%. ACCO Brands’s payout ratio is 20.17%.

A number of brokerages recently weighed in on ACCO. Zacks Investment Research lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. ValuEngine lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, Noble Financial reiterated a “buy” rating and set a $15.00 price objective on shares of ACCO Brands in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. ACCO Brands presently has a consensus rating of “Hold” and an average price target of $15.40.

In other ACCO Brands news, SVP Gregory J. Mccormack sold 15,678 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the transaction, the senior vice president now owns 81,079 shares of the company’s stock, valued at approximately $1,007,001.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

About ACCO Brands

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.

See Also: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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