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ACCO Brands (ABD): Office products maker gains 17%

Posted Aug 6th 2007 4:17PM by Kelly Wu (RSS feed)
Filed under: Major Movement

Shares of ACCO Brands Corp. (NYSE: ABD) closed $3.50 higher Monday after announcing strong sales and earnings. The nearly 17% rise -- among the NYSE's top performances Monday -- put ACCO shares at $24.25.

ACCO makes branded office supplies for resale, suppling to retail superstores, wholesale office suppliers and mail order catalogs. ACCO's products are sold under the brands
Day-Timer, Swingline, Kensington, Quartet, GBC, Rexel and Wilson Jones.

ACCO Brands' second-quarter report states earnings of $4.5 million, or 8 cents per share, a turnaround from last year's second-quarter loss of $9.8 million, or 18 cents per share.

Hedge fund manager's next stop: Acco Brands

Posted May 30th 2007 8:20PM by Tom Taulli (RSS feed)
Filed under: SEC Filings

A former Chairman of the Securities and Exchange Commission, Richard Breeden is now a hedge fund manager. He combines his extensive regulatory skills with value-oriented investment approaches.

One investment was in the struggling restaurant chain, Applebee's International (NASDAQ: APPB). He was even able to snag two board seats.

So what's next? Breeden has purchased a 9.7% stake in Acco Brands Corporation (NYSE: ABD). In the 13D filing, he did not provide many details. Instead, he just seems to think Acco is undervalued.

Acco develops prosaic things like staplers. It's not sexy, but revenues were $445.9 million in the latest quarter.

The problem is that growth has been lagging and the stock price has been sickly this year.

So I have a feeling Breeden will soon provide a list of suggestions for improving things at Acco.

Tom Taulli is the author of various books, including The Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.