Legal & General Group Plc increased its stake in shares of Acco Brands Corporation (NYSE:ACCO) by 50.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,026 shares of the industrial products company’s stock after buying an additional 12,716 shares during the quarter. Legal & General Group Plc’s holdings in Acco Brands Corporation were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ACCO. ClariVest Asset Management LLC grew its stake in shares of Acco Brands Corporation by 27.7% in the second quarter. ClariVest Asset Management LLC now owns 758,504 shares of the industrial products company’s stock worth $8,837,000 after purchasing an additional 164,500 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Acco Brands Corporation by 1.7% in the second quarter. Rhumbline Advisers now owns 141,526 shares of the industrial products company’s stock worth $1,649,000 after purchasing an additional 2,360 shares in the last quarter. Boston Partners bought a new position in shares of Acco Brands Corporation in the second quarter worth $20,976,000. Schwab Charles Investment Management Inc. grew its stake in shares of Acco Brands Corporation by 9.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 993,505 shares of the industrial products company’s stock worth $11,575,000 after purchasing an additional 88,830 shares in the last quarter. Finally, Bowling Portfolio Management LLC grew its stake in shares of Acco Brands Corporation by 57.6% in the second quarter. Bowling Portfolio Management LLC now owns 99,087 shares of the industrial products company’s stock worth $1,154,000 after purchasing an additional 36,212 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Acco Brands Corporation (NYSE:ACCO) opened at 12.65 on Friday. The stock has a 50 day moving average price of $11.44 and a 200 day moving average price of $12.01. The company has a market cap of $1.38 billion, a PE ratio of 25.20 and a beta of 1.40. Acco Brands Corporation has a 1-year low of $9.06 and a 1-year high of $14.75.

Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The firm had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $497.17 million. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Equities analysts forecast that Acco Brands Corporation will post $1.10 earnings per share for the current year.

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Several research analysts have recently issued reports on the company. ValuEngine cut Acco Brands Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub raised Acco Brands Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Zacks Investment Research cut Acco Brands Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, BWS Financial reissued a “buy” rating and issued a $18.00 price target on shares of Acco Brands Corporation in a research note on Tuesday, July 4th.

In other news, insider Gregory J. Mccormack sold 25,000 shares of Acco Brands Corporation stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the completion of the sale, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Neal V. Fenwick bought 12,313 shares of the stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $10.60 per share, with a total value of $130,517.80. Following the completion of the purchase, the vice president now directly owns 423,311 shares in the company, valued at approximately $4,487,096.60. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

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

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