ACCO Brands (NYSE:ACCO) Share Price Passes Above Two Hundred Day Moving Average of $5.64

Shares of ACCO Brands Co. (NYSE:ACCO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.64 and traded as high as $5.68. ACCO Brands shares last traded at $5.61, with a volume of 793,796 shares.

Analysts Set New Price Targets

ACCO has been the subject of a number of research analyst reports. Barrington Research restated an “outperform” rating and set a $7.50 price objective on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

ACCO Brands Trading Down 0.2 %

The business’s 50-day moving average is $5.89 and its two-hundred day moving average is $5.64. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $532.56 million, a PE ratio of -23.38, a PEG ratio of 0.44 and a beta of 1.64.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $476.37 million. ACCO Brands had a negative net margin of 1.19% and a positive return on equity of 12.94%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. On average, analysts predict that ACCO Brands Co. will post 1.07 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were given a $0.075 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 5.35%. ACCO Brands’s payout ratio is currently -125.00%.

Hedge Funds Weigh In On ACCO Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCO. BlackRock Inc. lifted its position in shares of ACCO Brands by 0.9% during the first quarter. BlackRock Inc. now owns 10,391,148 shares of the industrial products company’s stock worth $83,131,000 after purchasing an additional 92,697 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ACCO Brands by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 9,225,671 shares of the industrial products company’s stock worth $56,092,000 after purchasing an additional 218,454 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ACCO Brands by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,870,283 shares of the industrial products company’s stock worth $36,549,000 after purchasing an additional 28,862 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of ACCO Brands by 7.7% during the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock worth $31,999,000 after purchasing an additional 396,588 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of ACCO Brands by 0.6% during the first quarter. Invesco Ltd. now owns 2,444,408 shares of the industrial products company’s stock worth $19,555,000 after purchasing an additional 14,534 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.