Teacher Retirement System of Texas grew its position in shares of ACCO Brands Co. (NYSE:ACCO) by 17.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,531 shares of the industrial products company’s stock after buying an additional 1,851 shares during the quarter. Teacher Retirement System of Texas’ holdings in ACCO Brands were worth $108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the business. GSA Capital Partners LLP increased its position in ACCO Brands by 417.9% during the 2nd quarter. GSA Capital Partners LLP now owns 111,305 shares of the industrial products company’s stock worth $961,000 after buying an additional 89,814 shares during the period. Handelsbanken Fonder AB increased its position in ACCO Brands by 109.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 27,176 shares of the industrial products company’s stock worth $235,000 after buying an additional 14,200 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of ACCO Brands by 27.3% during the 2nd quarter. Advisor Group Holdings Inc. now owns 7,155 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,535 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in shares of ACCO Brands by 4.9% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 30,665 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 1,445 shares in the last quarter. Finally, Secure Asset Management LLC acquired a new stake in shares of ACCO Brands during the 2nd quarter worth $116,000. Hedge funds and other institutional investors own 86.08% of the company’s stock.
Several analysts have recently issued reports on the company. Noble Financial set a $8.40 target price on ACCO Brands in a report on Saturday, July 10th. TheStreet raised ACCO Brands from a “c” rating to a “b-” rating in a report on Thursday, July 29th. Finally, Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, August 2nd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.60.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Tuesday, July 27th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.17. ACCO Brands had a return on equity of 13.63% and a net margin of 4.19%. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $476.60 million. On average, analysts anticipate that ACCO Brands Co. will post 1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 27th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, August 26th. ACCO Brands’s payout ratio is 37.14%.
ACCO Brands Company Profile
ACCO Brands Corp. engages in the manufacture and marketing of office, school, calendar products, and select computer and electronic accessories. It operates through the followings segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The ACCO Brands North America segment includes the U.S.
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