Trutina Financial LLC purchased a new stake in shares of Acco Brands Corp. (NYSE:ACCO) during the second quarter, Holdings Channel reports. The firm purchased 118,200 shares of the company’s stock, valued at approximately $1,221,000. Acco Brands Corp. accounts for about 1.5% of Trutina Financial LLC’s portfolio, making the stock its 24th largest position.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Acco Brands Corp. during the fourth quarter valued at about $12,054,000. Franklin Resources Inc. raised its stake in shares of Acco Brands Corp. by 6.0% in the first quarter. Franklin Resources Inc. now owns 609,680 shares of the company’s stock valued at $5,475,000 after buying an additional 34,680 shares during the period. BlackRock Group LTD raised its stake in shares of Acco Brands Corp. by 15.6% in the first quarter. BlackRock Group LTD now owns 99,160 shares of the company’s stock valued at $890,000 after buying an additional 13,359 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Acco Brands Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,722,240 shares of the company’s stock valued at $24,446,000 after buying an additional 23,639 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Acco Brands Corp. by 11.9% in the first quarter. JPMorgan Chase & Co. now owns 7,029,374 shares of the company’s stock valued at $63,124,000 after buying an additional 745,302 shares during the period. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Acco Brands Corp. (NYSE:ACCO) traded down 0.92% during midday trading on Tuesday, hitting $9.65. 516,054 shares of the stock traded hands. The stock has a 50 day moving average of $10.03 and a 200 day moving average of $9.76. Acco Brands Corp. has a 1-year low of $5.47 and a 1-year high of $11.75. The company has a market capitalization of $1.03 billion, a P/E ratio of 8.00 and a beta of 2.14.

Acco Brands Corp. (NYSE:ACCO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company earned $410.10 million during the quarter, compared to the consensus estimate of $390.75 million. Acco Brands Corp. had a return on equity of 14.64% and a net margin of 8.63%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. Equities research analysts predict that Acco Brands Corp. will post $0.83 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Acco Brands Corp. from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, August 4th.

About Acco Brands Corp.

ACCO Brands Corporation is a manufacturer and marketer of office, school and calendar products, and also computer and electronic accessories. It sells its products to consumers and commercial end users through resellers, including traditional office supply resellers, wholesalers and retailers, including online retailers.

5 Day Chart for NYSE:ACCO

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