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

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

Separately, Barrington Research increased their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

ACCO Brands Price Performance

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

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

ACCO Brands Dividend Announcement

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

Institutional Trading of ACCO Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACCO. Sanctuary Advisors LLC raised its stake in shares of ACCO Brands by 15.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 98,646 shares of the industrial products company’s stock worth $574,000 after buying an additional 13,335 shares during the period. Virtu Financial LLC acquired a new position in ACCO Brands during the third quarter worth $188,000. Barclays PLC raised its position in ACCO Brands by 285.3% during the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 109,813 shares during the period. Arete Wealth Advisors LLC lifted its holdings in ACCO Brands by 30.5% during the third quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 10,801 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ACCO Brands by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock valued at $11,855,000 after purchasing an additional 53,490 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.

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.