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

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a strong-buy rating to a buy rating in a report released on Friday morning.

Separately, Barrington Research boosted their price objective on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

ACCO Brands Stock Performance

Shares of ACCO stock opened at $5.30 on Friday. The firm has a 50 day moving average of $5.65 and a two-hundred day moving average of $5.24. The stock has a market capitalization of $492.27 million, a PE ratio of -2.80, a P/E/G ratio of 0.48 and a beta of 1.67. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The firm had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. During the same period last year, the business posted $0.24 earnings per share. ACCO Brands’s revenue was down 6.0% compared to the same quarter last year. On average, research analysts predict that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were given a dividend of $0.075 per share. The ex-dividend date was Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 5.66%. ACCO Brands’s dividend payout ratio (DPR) is currently -15.87%.

Institutional Trading of ACCO Brands

A number of institutional investors have recently bought and sold shares of ACCO. Foundry Partners LLC raised its holdings in ACCO Brands by 15.7% during the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock worth $4,189,000 after purchasing an additional 104,160 shares in the last quarter. Bank of Montreal Can acquired a new stake in ACCO Brands during the 2nd quarter worth $4,588,000. Capital Management Corp VA raised its stake in ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after acquiring an additional 439,810 shares in the last quarter. Millennium Management LLC lifted its position in ACCO Brands by 116.1% in the second quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after acquiring an additional 630,663 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in ACCO Brands in the third quarter valued at $86,000. 84.56% of the stock is owned by hedge funds and other 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.