Bank of Montreal Can reduced its stake in ACCO Brands Co. (NYSE:ACCO) by 12.1% during the second quarter, Holdings Channel reports. The fund owned 191,495 shares of the industrial products company’s stock after selling 26,251 shares during the period. Bank of Montreal Can’s holdings in ACCO Brands were worth $2,231,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new stake in ACCO Brands during the first quarter valued at $460,000. Horizon Investment Services LLC raised its position in ACCO Brands by 27.5% in the first quarter. Horizon Investment Services LLC now owns 23,730 shares of the industrial products company’s stock valued at $312,000 after buying an additional 5,113 shares during the period. Metropolitan Life Insurance Co. NY raised its position in ACCO Brands by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 74,772 shares of the industrial products company’s stock valued at $983,000 after buying an additional 1,333 shares during the period. Gotham Asset Management LLC raised its position in ACCO Brands by 45.3% in the first quarter. Gotham Asset Management LLC now owns 60,950 shares of the industrial products company’s stock valued at $801,000 after buying an additional 19,002 shares during the period. Finally, Highbridge Capital Management LLC raised its position in ACCO Brands by 79.2% in the first quarter. Highbridge Capital Management LLC now owns 75,601 shares of the industrial products company’s stock valued at $994,000 after buying an additional 33,416 shares during the period. 91.39% of the stock is owned by institutional investors.

ACCO Brands Co. (ACCO) remained flat at $10.90 on Friday. 815,330 shares of the stock traded hands. The firm’s 50-day moving average price is $11.58 and its 200-day moving average price is $12.48. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 21.71 and a beta of 1.30. ACCO Brands Co. has a one year low of $9.06 and a one year high of $14.75.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. ACCO Brands had a net margin of 4.80% and a return on equity of 13.14%. The business had revenue of $490 million for the quarter, compared to analyst estimates of $497.17 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts forecast that ACCO Brands Co. will post $1.10 earnings per share for the current year.

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Several research analysts have recently commented on ACCO shares. Zacks Investment Research lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Thursday, May 18th. BidaskClub lowered shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Finally, BWS Financial reaffirmed a “buy” rating and issued a $18.00 price target on shares of ACCO Brands in a report on Tuesday, July 4th.

In other news, SVP Kathy D. Schnaedter sold 68,653 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total value of $773,032.78. Following the sale, the senior vice president now owns 68,655 shares of the company’s stock, valued at approximately $773,055.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Neal V. Fenwick bought 12,313 shares of the stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $10.60 per share, for a total transaction of $130,517.80. Following the acquisition, the vice president now owns 423,311 shares in the company, valued at approximately $4,487,096.60. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.

ACCO Brands Company Profile

ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.

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Institutional Ownership by Quarter for ACCO Brands (NYSE:ACCO)

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