ClariVest Asset Management LLC Acquires 2,148 Shares of Acco Brands Corp. (ACCO)
ClariVest Asset Management LLC boosted its stake in Acco Brands Corp. (NYSE:ACCO) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 364,226 shares of the company’s stock after buying an additional 2,148 shares during the period. ClariVest Asset Management LLC’s holdings in Acco Brands Corp. were worth $3,762,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACCO. Panagora Asset Management Inc. increased its stake in shares of Acco Brands Corp. by 7.8% in the first quarter. Panagora Asset Management Inc. now owns 392,073 shares of the company’s stock valued at $3,521,000 after buying an additional 28,267 shares during the period. Springbok Capital Management LLC increased its stake in shares of Acco Brands Corp. by 55.7% in the first quarter. Springbok Capital Management LLC now owns 15,722 shares of the company’s stock valued at $141,000 after buying an additional 5,622 shares during the period. HBK Investments L P increased its stake in shares of Acco Brands Corp. by 41.2% in the first quarter. HBK Investments L P now owns 40,100 shares of the company’s stock valued at $360,000 after buying an additional 11,700 shares during the period. Bogle Investment Management L P DE bought a new stake in shares of Acco Brands Corp. during the first quarter valued at approximately $1,561,000. Finally, Wellington Management Group LLP increased its stake in shares of Acco Brands Corp. by 6.9% in the first quarter. Wellington Management Group LLP now owns 14,479,971 shares of the company’s stock valued at $130,030,000 after buying an additional 934,859 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.
Acco Brands Corp. (NYSE:ACCO) traded down 1.75% during mid-day trading on Friday, hitting $9.52. 476,504 shares of the stock were exchanged. The stock has a 50 day moving average price of $9.84 and a 200 day moving average price of $9.90. 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 $1.02 billion, a PE ratio of 7.89 and a beta of 1.96.
Acco Brands Corp. (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Acco Brands Corp. had a return on equity of 14.64% and a net margin of 8.63%. The company earned $410.10 million during the quarter, compared to analyst estimates of $390.75 million. During the same quarter last year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts anticipate 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 price objective 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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