California State Teachers Retirement System Cuts Position in Acco Brands Corporation (ACCO)

California State Teachers Retirement System decreased its holdings in Acco Brands Corporation (NYSE:ACCO) by 8.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 191,684 shares of the industrial products company’s stock after selling 17,762 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Acco Brands Corporation worth $2,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACCO. BlackRock Inc. raised its stake in shares of Acco Brands Corporation by 16,978.3% during the first quarter. BlackRock Inc. now owns 7,403,606 shares of the industrial products company’s stock valued at $97,358,000 after purchasing an additional 7,360,255 shares during the period. Boston Partners purchased a new stake in shares of Acco Brands Corporation during the second quarter valued at approximately $20,976,000. Royal Bank of Canada raised its stake in shares of Acco Brands Corporation by 5.9% during the second quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock valued at $71,323,000 after purchasing an additional 339,057 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Acco Brands Corporation during the second quarter valued at approximately $3,266,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Acco Brands Corporation by 37.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 904,675 shares of the industrial products company’s stock valued at $11,897,000 after purchasing an additional 244,178 shares during the period. Hedge funds and other institutional investors own 92.62% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.truebluetribune.com/2017/11/14/california-state-teachers-retirement-system-cuts-position-in-acco-brands-corporation-acco.html.

Shares of Acco Brands Corporation (NYSE ACCO) opened at $12.75 on Tuesday. Acco Brands Corporation has a 1 year low of $10.35 and a 1 year high of $14.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70. The firm has a market cap of $1,369.18, a P/E ratio of 12.60, a PEG ratio of 1.12 and a beta of 1.52.

Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Acco Brands Corporation had a net margin of 3.51% and a return on equity of 15.99%. The business had revenue of $532.20 million during the quarter, compared to the consensus estimate of $529.65 million. During the same quarter last year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. research analysts expect that Acco Brands Corporation will post 1.15 EPS for the current fiscal year.

In other news, insider Gregory J. Mccormack sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $10.95, for a total transaction of $273,750.00. Following the completion of the sale, the insider now owns 63,889 shares of the company’s stock, valued at $699,584.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on ACCO shares. ValuEngine lowered shares of Acco Brands Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $13.00 price objective on shares of Acco Brands Corporation in a research note on Wednesday, November 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $15.33.

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.

Want to see what other hedge funds are holding ACCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acco Brands Corporation (NYSE:ACCO).

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

Receive News & Ratings for Acco Brands Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acco Brands Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply