Zurich Insurance Group Ltd FI bought a new stake in ACCO Brands Co. (NYSE:ACCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,600 shares of the industrial products company’s stock, valued at approximately $881,000. Zurich Insurance Group Ltd FI owned approximately 0.06% of ACCO Brands at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. MetLife Investment Advisors LLC raised its position in ACCO Brands by 11.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 48,975 shares of the industrial products company’s stock worth $678,000 after buying an additional 5,210 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of ACCO Brands by 27.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 5,380 shares during the period. KBC Group NV grew its stake in shares of ACCO Brands by 13.5% during the 1st quarter. KBC Group NV now owns 52,433 shares of the industrial products company’s stock worth $658,000 after purchasing an additional 6,234 shares during the period. Swiss National Bank grew its stake in shares of ACCO Brands by 3.8% during the 1st quarter. Swiss National Bank now owns 189,000 shares of the industrial products company’s stock worth $2,372,000 after purchasing an additional 6,900 shares during the period. Finally, Northern Trust Corp grew its stake in shares of ACCO Brands by 0.3% during the 1st quarter. Northern Trust Corp now owns 2,379,739 shares of the industrial products company’s stock worth $29,866,000 after purchasing an additional 7,394 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.
ACCO has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Noble Financial reissued a “buy” rating and issued a $15.00 price objective on shares of ACCO Brands in a research note on Monday, August 6th. Finally, ValuEngine cut shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.40.
Shares of ACCO traded down $0.15 during mid-day trading on Friday, reaching $10.20. 432,682 shares of the stock traded hands, compared to its average volume of 498,502. The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.85 and a beta of 1.21. ACCO Brands Co. has a 12-month low of $10.13 and a 12-month high of $14.63. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 1.35.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $498.80 million for 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 company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. Equities analysts expect that ACCO Brands Co. will post 1.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Friday, August 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, August 30th. ACCO Brands’s payout ratio is currently 20.17%.
In other news, SVP Gregory J. Mccormack sold 15,678 shares of the firm’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 completion of the sale, the senior vice president now owns 81,079 shares of the company’s stock, valued at $1,007,001.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.
ACCO Brands 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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