Russell Investments Group Ltd. Has $12.67 Million Position in ACCO Brands Co. (ACCO)
Russell Investments Group Ltd. raised its stake in shares of ACCO Brands Co. (NYSE:ACCO) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,087,428 shares of the industrial products company’s stock after buying an additional 15,175 shares during the period. Russell Investments Group Ltd.’s holdings in ACCO Brands were worth $12,667,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ACCO. Eqis Capital Management Inc. acquired a new position in ACCO Brands during the first quarter valued at about $183,000. Wedge Capital Management L L P NC acquired a new position in ACCO Brands during the first quarter valued at about $229,000. Bowling Portfolio Management LLC increased its position in ACCO Brands by 2.4% in the first quarter. Bowling Portfolio Management LLC now owns 62,875 shares of the industrial products company’s stock valued at $827,000 after buying an additional 1,494 shares during the last quarter. Wells Fargo & Company MN increased its position in ACCO Brands by 4.4% in the first quarter. Wells Fargo & Company MN now owns 4,566,888 shares of the industrial products company’s stock valued at $60,056,000 after buying an additional 194,294 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in ACCO Brands during the first quarter valued at about $4,027,000. 91.39% of the stock is owned by hedge funds and other institutional investors.
ACCO Brands Co. (NYSE ACCO) remained flat at $10.90 during midday trading on Friday. The company’s stock had a trading volume of 815,330 shares. The stock has a 50 day moving average price of $11.58 and a 200-day moving average price of $12.48. ACCO Brands Co. has a 12 month low of $9.06 and a 12 month high of $14.75. The company has a market cap of $1.19 billion, a P/E ratio of 21.71 and a beta of 1.30.
ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490 million during the quarter, compared to analyst estimates of $497.17 million. ACCO Brands had a net margin of 4.80% and a return on equity of 13.14%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts anticipate that ACCO Brands Co. will post $1.10 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, BWS Financial reiterated a “buy” rating and set a $18.00 price objective on shares of ACCO Brands in a research report on Tuesday, July 4th.
In other news, VP Neal V. Fenwick purchased 12,313 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $10.60 per share, for a total transaction of $130,517.80. Following the acquisition, the vice president now directly owns 423,311 shares of the company’s stock, valued at approximately $4,487,096.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kathy D. Schnaedter sold 68,653 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total transaction of $773,032.78. Following the sale, the senior vice president now owns 68,655 shares of the company’s stock, valued at $773,055.30. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.
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.
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