ACCO Brands (NYSE:ACCO) Shares Gap Up – Here’s Why

Shares of ACCO Brands Co. (NYSE:ACCO) gapped up before the market opened on Friday . The stock had previously closed at $4.90, but opened at $5.25. ACCO Brands shares last traded at $5.28, with a volume of 713,232 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACCO. Barrington Research reiterated an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a research report on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Stock Performance

The business’s 50-day moving average is $5.24 and its 200 day moving average is $5.02. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The company has a market cap of $503.91 million, a PE ratio of -2.87, a PEG ratio of 0.40 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $420.90 million for the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts predict that ACCO Brands Co. will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio (DPR) is presently -16.39%.

Insider Transactions at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC grew its position in shares of ACCO Brands by 68.3% in the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock worth $38,000 after buying an additional 2,800 shares during the last quarter. Somerset Trust Co bought a new position in ACCO Brands in the 2nd quarter worth $57,000. Innealta Capital LLC bought a new position in ACCO Brands in the 1st quarter worth $65,000. SG Americas Securities LLC purchased a new stake in shares of ACCO Brands in the 1st quarter worth about $71,000. Finally, Paloma Partners Management Co bought a new stake in shares of ACCO Brands during the 1st quarter valued at about $74,000. Institutional investors own 84.56% of the company’s stock.

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.