The Manufacturers Life Insurance Company lifted its position in Acco Brands Corporation (NYSE:ACCO) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,528 shares of the industrial products company’s stock after acquiring an additional 1,442 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Acco Brands Corporation worth $974,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ACCO. BlackRock Inc. increased its position in shares of Acco Brands Corporation by 16,978.3% in the first quarter. BlackRock Inc. now owns 7,403,606 shares of the industrial products company’s stock worth $97,358,000 after acquiring an additional 7,360,255 shares in the last quarter. Boston Partners purchased a new position in shares of Acco Brands Corporation in the second quarter worth approximately $20,976,000. Royal Bank of Canada increased its position in shares of Acco Brands Corporation by 5.9% in the second quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock worth $71,323,000 after acquiring an additional 339,057 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Acco Brands Corporation in the second quarter worth approximately $3,266,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Acco Brands Corporation by 37.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 904,675 shares of the industrial products company’s stock worth $11,897,000 after acquiring an additional 244,178 shares in the last quarter. 92.62% of the stock is currently owned by institutional investors and hedge funds.
In other Acco Brands Corporation news, insider Gregory J. Mccormack sold 25,000 shares of Acco Brands Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were 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 in the company, valued at $699,584.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by insiders.
COPYRIGHT VIOLATION WARNING: This piece of content was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://transcriptdaily.com/2017/11/14/the-manufacturers-life-insurance-company-has-974000-stake-in-acco-brands-corporation-acco.html.
Shares of Acco Brands Corporation (NYSE:ACCO) opened at $12.75 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39. The company has a market cap of $1,369.18, a P/E ratio of 12.60, a P/E/G ratio of 1.12 and a beta of 1.52. Acco Brands Corporation has a fifty-two week low of $10.35 and a fifty-two week high of $14.75.
Acco Brands Corporation (NYSE:ACCO) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $532.20 million during the quarter, compared to analysts’ expectations of $529.65 million. Acco Brands Corporation had a net margin of 3.51% and a return on equity of 15.99%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. analysts anticipate that Acco Brands Corporation will post 1.15 EPS for the current year.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, October 31st. BidaskClub cut shares of Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine upgraded shares of Acco Brands Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $13.00 price target on shares of Acco Brands Corporation in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price 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.
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.