ACCO Brands (NYSE:ACCO) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a report issued on Tuesday.

Separately, Barrington Research restated an outperform rating and set a $7.50 price target on shares of ACCO Brands in a research note on Thursday, February 29th.

ACCO Brands Trading Up 0.3 %

NYSE ACCO opened at $5.05 on Tuesday. ACCO Brands has a twelve month low of $4.64 and a twelve month high of $6.62. The business’s fifty day moving average is $5.15 and its 200 day moving average is $5.55. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. The company has a market cap of $482.30 million, a price-to-earnings ratio of -18.69, a price-to-earnings-growth ratio of 0.39 and a beta of 1.66.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $371.80 million. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts expect that ACCO Brands will post 1.07 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio is presently -111.11%.

Insider Buying and Selling

In other news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now owns 18,621 shares in the company, valued at approximately $92,360.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACCO Brands

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. purchased a new stake in ACCO Brands during the 3rd quarter valued at $365,000. Bank of New York Mellon Corp lifted its holdings in ACCO Brands by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,251,344 shares of the industrial products company’s stock worth $7,183,000 after buying an additional 12,919 shares during the period. Principal Financial Group Inc. increased its stake in shares of ACCO Brands by 48.8% during the third quarter. Principal Financial Group Inc. now owns 38,100 shares of the industrial products company’s stock valued at $219,000 after buying an additional 12,497 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of ACCO Brands by 110.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,187,604 shares of the industrial products company’s stock valued at $6,817,000 after acquiring an additional 622,830 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in ACCO Brands by 31.9% in the third quarter. Jump Financial LLC now owns 108,268 shares of the industrial products company’s stock worth $621,000 after acquiring an additional 26,159 shares during the period. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.