Alambic Investment Management L.P. increased its position in shares of Acco Brands Corporation (NYSE:ACCO) by 96.6% during the third quarter, Holdings Channel reports. The institutional investor owned 45,600 shares of the company’s stock after buying an additional 22,400 shares during the period. Alambic Investment Management L.P.’s holdings in Acco Brands Corporation were worth $440,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of ACCO. BlackRock Inc. raised its stake in Acco Brands Corporation by 295.2% in the second quarter. BlackRock Inc. now owns 29,515 shares of the company’s stock worth $305,000 after buying an additional 22,047 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Acco Brands Corporation by 5.3% in the second quarter. BlackRock Investment Management LLC now owns 444,034 shares of the company’s stock worth $4,587,000 after buying an additional 22,413 shares in the last quarter. BlackRock Advisors LLC raised its stake in Acco Brands Corporation by 18.1% in the second quarter. BlackRock Advisors LLC now owns 60,485 shares of the company’s stock worth $625,000 after buying an additional 9,286 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Acco Brands Corporation by 331.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,774 shares of the company’s stock worth $121,000 after buying an additional 9,042 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Acco Brands Corporation by 5.9% in the second quarter. Vanguard Group Inc. now owns 9,028,339 shares of the company’s stock worth $93,263,000 after buying an additional 504,681 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.
Acco Brands Corporation (NYSE:ACCO) traded up 0.40% on Wednesday, hitting $12.50. The stock had a trading volume of 520,042 shares. The firm has a market cap of $1.34 billion, a PE ratio of 11.23 and a beta of 1.55. Acco Brands Corporation has a 12-month low of $5.47 and a 12-month high of $14.00. The company’s 50 day moving average is $13.10 and its 200 day moving average is $11.14.
Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Monday, October 24th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Acco Brands Corporation had a net margin of 7.89% and a return on equity of 13.86%. The company earned $431.30 million during the quarter, compared to analysts’ expectations of $432.25 million. During the same period in the prior year, the company earned $0.28 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Acco Brands Corporation will post $0.85 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded Acco Brands Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd.
In other Acco Brands Corporation news, VP Neal V. Fenwick sold 12,500 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $12.59, for a total transaction of $157,375.00. Following the completion of the sale, the vice president now directly owns 343,955 shares in the company, valued at $4,330,393.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.
About Acco Brands Corporation
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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