SG Americas Securities LLC boosted its position in ACCO Brands Co. (NYSE:ACCO) by 90.3% in the second quarter, HoldingsChannel reports. The firm owned 39,844 shares of the industrial products company’s stock after buying an additional 18,907 shares during the quarter. SG Americas Securities LLC’s holdings in ACCO Brands were worth $552,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ACCO. Mount Yale Investment Advisors LLC bought a new stake in ACCO Brands in the 1st quarter worth about $124,000. Oppenheimer & Co. Inc. bought a new stake in ACCO Brands in the 1st quarter worth about $144,000. Koch Industries Inc. bought a new stake in ACCO Brands in the 1st quarter worth about $153,000. Highbridge Capital Management LLC bought a new stake in ACCO Brands in the 1st quarter worth about $155,000. Finally, Bayesian Capital Management LP bought a new stake in ACCO Brands in the 1st quarter worth about $170,000. 89.54% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on ACCO shares. Noble Financial reiterated a “buy” rating and issued a $15.00 target price on shares of ACCO Brands in a research note on Monday, August 6th. Zacks Investment Research upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, June 20th. Barrington Research reiterated a “buy” rating and issued a $16.00 target price on shares of ACCO Brands in a research note on Thursday, June 14th. Finally, ValuEngine upgraded shares of ACCO Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. ACCO Brands currently has an average rating of “Hold” and a consensus price target of $15.40.
ACCO opened at $12.15 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.15 and a current ratio of 1.74. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 0.90 and a beta of 1.18. ACCO Brands Co. has a twelve month low of $10.90 and a twelve month high of $14.63.
ACCO Brands (NYSE:ACCO) last released its earnings results on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $498.80 million during the quarter, compared to analysts’ expectations of $493.85 million. ACCO Brands had a net margin of 7.02% and a return on equity of 17.95%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. research analysts anticipate that ACCO Brands Co. will post 1.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Friday, August 31st will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, August 30th. ACCO Brands’s payout ratio is currently 20.17%.
In related news, SVP Gregory J. Mccormack sold 15,678 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the sale, the senior vice president now directly owns 81,079 shares in the company, valued at approximately $1,007,001.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.
ACCO Brands Company Profile
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.
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