Principal Financial Group Inc. Has $257,000 Position in Acco Brands Corporation (NYSE:ACCO)

Principal Financial Group Inc. reduced its stake in Acco Brands Corporation (NYSE:ACCO) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,552 shares of the industrial products company’s stock after selling 2,579 shares during the period. Principal Financial Group Inc.’s holdings in Acco Brands Corporation were worth $257,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Acco Brands Corporation by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 7,036,464 shares of the industrial products company’s stock valued at $92,530,000 after buying an additional 75,844 shares during the period. Wells Fargo & Company MN increased its position in shares of Acco Brands Corporation 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 period. OppenheimerFunds Inc. increased its position in shares of Acco Brands Corporation by 3.6% in the first quarter. OppenheimerFunds Inc. now owns 2,296,604 shares of the industrial products company’s stock valued at $30,200,000 after buying an additional 79,334 shares during the period. James Investment Research Inc. boosted its stake in shares of Acco Brands Corporation by 5.3% in the first quarter. James Investment Research Inc. now owns 1,184,523 shares of the industrial products company’s stock worth $15,577,000 after buying an additional 59,993 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Acco Brands Corporation by 196.3% in the fourth quarter. Teachers Advisors LLC now owns 1,045,492 shares of the industrial products company’s stock worth $13,644,000 after buying an additional 692,590 shares during the last quarter. Institutional investors own 91.39% of the company’s stock.

Shares of Acco Brands Corporation (ACCO) opened at 10.90 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of 21.71 and a beta of 1.30. The stock’s 50 day moving average is $11.58 and its 200-day moving average is $12.48. Acco Brands Corporation has a 52 week low of $9.06 and a 52 week high of $14.75.

Acco Brands Corporation (NYSE:ACCO) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490 million for the quarter, compared to the consensus estimate of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities analysts predict that Acco Brands Corporation will post $1.10 EPS for the current fiscal year.

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A number of equities research analysts have recently commented on ACCO shares. Zacks Investment Research cut shares of Acco Brands Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. BidaskClub raised shares of Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. ValuEngine raised shares of Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th. Finally, BWS Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Acco Brands Corporation in a research note on Tuesday, July 4th.

In other news, SVP Kathy D. Schnaedter sold 68,653 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $11.26, for a total value of $773,032.78. Following the transaction, the senior vice president now directly owns 68,655 shares in the company, valued at approximately $773,055.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Neal V. Fenwick acquired 12,313 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $10.60 per share, for a total transaction of $130,517.80. Following the completion of the acquisition, the vice president now owns 423,311 shares in the company, valued at $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 Company 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.

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

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