ACCO Brands Co. (NYSE:ACCO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.32, but opened at $9.00. ACCO Brands shares last traded at $8.95, with a volume of 200 shares trading hands.
ACCO has been the topic of several recent analyst reports. Barrington Research increased their target price on ACCO Brands from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 16th. They noted that the move was a valuation call. KeyCorp raised ACCO Brands from a “sector weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a report on Thursday, November 12th. Zacks Investment Research upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research report on Friday. Finally, TheStreet downgraded shares of ACCO Brands from a “b” rating to a “c” rating in a research report on Wednesday, February 17th.
The stock’s 50-day moving average price is $8.68 and its 200-day moving average price is $7.42. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.99 and a current ratio of 1.63. The company has a market capitalization of $846.69 million, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.22 and a beta of 2.29.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 29th. Stockholders of record on Wednesday, March 17th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, March 16th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.90%. ACCO Brands’s payout ratio is 21.67%.
In other news, CEO Boris Elisman sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 22nd. The shares were sold at an average price of $8.65, for a total transaction of $1,730,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,296,030 shares of the company’s stock, valued at approximately $11,210,659.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patrick Buchenroth sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $8.46, for a total transaction of $84,600.00. Following the transaction, the vice president now directly owns 106,922 shares of the company’s stock, valued at $904,560.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,205 shares of company stock valued at $1,971,595. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of ACCO Brands by 8.9% during the 4th quarter. BlackRock Inc. now owns 7,571,016 shares of the industrial products company’s stock valued at $63,976,000 after buying an additional 620,550 shares during the period. Wells Fargo & Company MN grew its stake in shares of ACCO Brands by 8.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,519,493 shares of the industrial products company’s stock valued at $29,740,000 after buying an additional 277,983 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ACCO Brands by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,009 shares of the industrial products company’s stock valued at $10,563,000 after acquiring an additional 29,265 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ACCO Brands by 25.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,021,399 shares of the industrial products company’s stock valued at $8,631,000 after acquiring an additional 208,444 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of ACCO Brands by 9.6% during the 4th quarter. Victory Capital Management Inc. now owns 667,268 shares of the industrial products company’s stock valued at $5,638,000 after acquiring an additional 58,481 shares in the last quarter. 88.22% of the stock is owned by institutional investors.
About ACCO Brands (NYSE:ACCO)
ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, planners, dry erase boards, and janitorial supplies; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.
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