ACCO Brands (NYSE:ACCO) Upgraded 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 Wednesday morning.

Separately, Barrington Research dropped their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th.

ACCO Brands Stock Performance

ACCO opened at $4.53 on Wednesday. The stock has a market cap of $420.29 million, a price-to-earnings ratio of -4.27, a PEG ratio of 0.37 and a beta of 1.74. The business has a 50 day moving average of $5.04 and a 200-day moving average of $5.33. 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 12-month low of $4.30 and a 12-month high of $6.44.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $448.10 million for the quarter, compared to analyst estimates of $455.06 million. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. On average, equities research analysts expect that ACCO Brands will post 1.02 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 6.63%. ACCO Brands’s dividend payout ratio is currently -28.30%.

Institutional Investors Weigh In On ACCO Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. DMC Group LLC boosted its position in ACCO Brands by 9.5% during the fourth quarter. DMC Group LLC now owns 28,783 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,496 shares during the last quarter. Somerset Trust Co lifted its stake in shares of ACCO Brands by 22.1% in the 4th quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 2,724 shares during the period. FMR LLC increased its holdings in shares of ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 3,260 shares in the last quarter. Nebula Research & Development LLC increased its holdings in ACCO Brands by 8.6% during the 4th quarter. Nebula Research & Development LLC now owns 59,572 shares of the industrial products company’s stock valued at $313,000 after acquiring an additional 4,732 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in ACCO Brands by 8.8% during the 3rd quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 4,781 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

About ACCO Brands

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.