Today: The Hanson & Doremus Investment Management reached $579,000 position of Acco Brands Corp. (ACCO)

The Hanson & Doremus Investment Management reached $579,000 position  of Acco Brands Corp. (ACCO)

Hanson & Doremus Investment Management decreased its position in Acco Brands Corp. (NYSE:ACCO) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,010 shares of the company’s stock after selling 6,790 shares during the period. Hanson & Doremus Investment Management’s holdings in Acco Brands Corp. were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. ClariVest Asset Management LLC raised its position in shares of Acco Brands Corp. by 0.6% in the second quarter. ClariVest Asset Management LLC now owns 364,226 shares of the company’s stock worth $3,762,000 after buying an additional 2,148 shares in the last quarter. Springbok Capital Management LLC raised its position 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 worth $141,000 after buying an additional 5,622 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Acco Brands Corp. by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 182,706 shares of the company’s stock worth $1,640,000 after buying an additional 5,729 shares in the last quarter. HBK Investments L P raised its position 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 worth $360,000 after buying an additional 11,700 shares in the last quarter. Finally, BlackRock Group LTD raised its position 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 worth $890,000 after buying an additional 13,359 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Acco Brands Corp. (NYSE:ACCO) traded down 0.43% during trading on Friday, reaching $9.17. 109,214 shares of the company’s stock traded hands. The company has a 50-day moving average price of $9.76 and a 200 day moving average price of $9.91. Acco Brands Corp. has a one year low of $5.47 and a one year high of $11.75. The firm has a market capitalization of $982.96 million, a PE ratio of 7.60 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 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Acco Brands Corp. had a net margin of 8.63% and a return on equity of 14.64%. The business earned $410.10 million during the quarter, compared to analysts’ expectations of $390.75 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, 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 for the company in a research 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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