Dallas, Texas 10/08/2013 (Financialstrend) – ACCO Brands Corporation (NYSE:ACCO) is a major office supply player. It has a market cap of $779 million. The company has scheduled its third quarter earnings call on October 30. It is operating in a challenging environment in which traditional office supply sellers have to face off with new age office tools like tablets and digital records.
In order to sustain and reinvent itself the company put itself through a painful merger process with its better positioned and bigger competitor Mead in 2012. Thanks to the consolidation, the combined entity is well positioned to script a comeback. The 3Q results will throw light on how successful the firm has been in leveraging the synergies from the combined operations to return share holder value.
In spite of the challenging sector sentiments, the firm has managed to grow its market value. It has gone up by 3.3% in its share value over the past week of trading. In the past 90 days it has managed to post a 2.54% increase which is very creditable in comparison to its competition.
The stock is trading at $6.86 per share as of close of business on October 7. ACCO shares attracted attention at the browsers with close to 745998 shares getting traded in comparison to 632460 shares. This increase in trading volume did not result in a increase in share value. The stock ended 0.44% lesser in comparison to its previous day close. At current valuations, the stock is down 25% from its 52 week high valuations and is up 18% from its 52 week low pricing. It has managed to just about hold on to its quarter on quarter sales in 2Q. It posted an almost flat 0.35 growth in sales over its previous quarter sales. To put this in context one needs to know that the company had recorded annual sales of $1.82 billion in the past 12 months.