Acco Brands Corp. (ACCO) Stake Increased by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC increased its stake in Acco Brands Corp. (NYSE:ACCO) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,418 shares of the company’s stock after buying an additional 2,716 shares during the period. Janney Montgomery Scott LLC’s holdings in Acco Brands Corp. were worth $195,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Chartwell Investment Partners LLC bought a new position in shares of Acco Brands Corp. during the second quarter valued at $3,653,000. State Board of Administration of Florida Retirement System increased its stake in shares of Acco Brands Corp. by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 123,667 shares of the company’s stock valued at $1,277,000 after buying an additional 743 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Acco Brands Corp. during the second quarter valued at about $110,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Acco Brands Corp. during the second quarter valued at about $624,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Acco Brands Corp. during the second quarter valued at about $17,360,000. Institutional investors own 94.21% of the company’s stock.
Shares of Acco Brands Corp. (NYSE:ACCO) traded up 1.14% during mid-day trading on Wednesday, hitting $9.76. 248,821 shares of the company’s stock traded hands. The stock has a market cap of $1.05 billion, a P/E ratio of 8.09 and a beta of 2.14. Acco Brands Corp. has a 1-year low of $5.47 and a 1-year high of $11.75. The stock has a 50 day moving average price of $10.03 and a 200-day moving average price of $9.76.
Acco Brands Corp. (NYSE:ACCO) last released its earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $390.75 million. Acco Brands Corp. had a net margin of 8.63% and a return on equity of 14.64%. Acco Brands Corp.’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Equities research analysts anticipate that Acco Brands Corp. will post $0.83 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Acco Brands Corp. from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report 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.
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