BlackRock Inc. Acquires Shares of 8,874,673 Acco Brands Corporation $ACCO

Key Points

• BlackRock acquired 8.87 million Acco Brands shares valued at approximately $36.9 million, giving it a 9.61% stake. Overall, institutional investors and hedge funds own 84.56% of the company.
• Acco Brands reported quarterly EPS of $0.29, exceeding estimates by $0.02, while revenue of $415.1 million also surpassed forecasts. Analysts maintain a consensus “Hold” rating with a $6.00 target price.
• The company declared a quarterly dividend of $0.075, or $0.30 annualized, representing an approximately 7.0% yield; its shares recently traded at $4.26.

BlackRock Inc. acquired a new stake in Acco Brands Corporation (NYSE:ACCO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,874,673 shares of the industrial products company's stock, valued at approximately $36,919,000. BlackRock Inc. owned 9.61% of Acco Brands at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Deutsche Bank AG acquired a new stake in Acco Brands in the 2nd quarter valued at $374,000. Bank of New York Mellon Corp acquired a new position in Acco Brands during the second quarter worth $4,079,000. GSA Capital Partners LLP acquired a new position in Acco Brands during the second quarter worth $273,000. Assenagon Asset Management S.A. raised its stake in Acco Brands by 140.2% during the second quarter. Assenagon Asset Management S.A. now owns 464,056 shares of the industrial products company's stock worth $1,930,000 after acquiring an additional 270,877 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Acco Brands by 21.9% during the first quarter. NewEdge Advisors LLC now owns 35,231 shares of the industrial products company's stock valued at $106,000 after acquiring an additional 6,340 shares during the period. 84.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACCO. Barrington Research set a $6.00 target price on shares of Acco Brands in a report on Wednesday, August 5th. Weiss Ratings raised shares of Acco Brands from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Wall Street Zen lowered shares of Acco Brands from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research raised shares of Acco Brands from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.00.

Acco Brands Price Performance

Acco Brands stock opened at $4.26 on Wednesday. The business's fifty day moving average is $4.18 and its two-hundred day moving average is $3.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.22 and a current ratio of 1.97. The firm has a market cap of $393.24 million, a P/E ratio of 6.87, a P/E/G ratio of 0.81 and a beta of 1.21. Acco Brands Corporation has a 52 week low of $2.81 and a 52 week high of $4.56.

Acco Brands (NYSE:ACCO - Get Free Report) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $415.10 million for the quarter, compared to analyst estimates of $402.53 million. Acco Brands had a net margin of 3.74% and a return on equity of 12.57%. Acco Brands has set its Q3 2026 guidance at 0.170-0.210 EPS and its FY 2026 guidance at 0.870-0.910 EPS. Equities research analysts forecast that Acco Brands Corporation will post 0.88 earnings per share for the current fiscal year.

Acco Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, August 21st. Acco Brands's dividend payout ratio (DPR) is presently 48.39%.

Acco Brands Profile

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company's portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.

Want to see what other hedge funds are holding ACCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acco Brands Corporation (NYSE:ACCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source