Trade Report: The Strs Ohio cuts position of Acco Brands Corp. (ACCO)

The Strs Ohio cuts position of Acco Brands Corp. (ACCO)

Strs Ohio lowered its stake in shares of Acco Brands Corp. (NYSE:ACCO) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,500 shares of the company’s stock after selling 7,400 shares during the period. Strs Ohio’s holdings in Acco Brands Corp. were worth $903,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada boosted its stake in Acco Brands Corp. by 5.5% in the first quarter. Royal Bank of Canada now owns 5,722,751 shares of the company’s stock valued at $51,390,000 after buying an additional 296,327 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Bogle Investment Management L P DE bought a new stake in Acco Brands Corp. during the first quarter valued at about $1,561,000. UBS Group AG boosted its stake in Acco Brands Corp. by 2,212.3% in the first quarter. UBS Group AG now owns 239,993 shares of the company’s stock valued at $2,155,000 after buying an additional 229,614 shares in the last quarter. Finally, Springbok Capital Management LLC boosted its stake in 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 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 0.65% during midday trading on Monday, hitting $9.11. 305,872 shares of the company traded hands. Acco Brands Corp. has a 12-month low of $5.47 and a 12-month high of $11.75. The company has a market cap of $976.53 million, a PE ratio of 7.55 and a beta of 1.96. The stock has a 50 day moving average price of $9.71 and a 200-day moving average price of $9.93.

Acco Brands Corp. (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, topping 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 firm had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $390.75 million. During the same period in the previous year, the business earned $0.24 earnings per share. Acco Brands Corp.’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Acco Brands Corp. will post $0.83 EPS for the current year.

Separately, Zacks Investment Research cut shares of Acco Brands Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.

Acco Brands Corp. Company Profile

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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