ACCO Brands (NYSE:ACCO) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, Barrington Research dropped their price target on ACCO Brands from $7.50 to $7.00 and set an outperform rating on the stock in a report on Thursday, June 6th.

ACCO Brands Stock Performance

Shares of ACCO Brands stock opened at $4.70 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. The company has a market cap of $449.32 million, a PE ratio of -17.41, a price-to-earnings-growth ratio of 0.38 and a beta of 1.63. The business has a 50 day moving average price of $4.96 and a 200-day moving average price of $5.52. ACCO Brands has a 52 week low of $4.62 and a 52 week high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $358.90 million for the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. ACCO Brands’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Equities analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date was Thursday, May 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Insiders Place Their Bets

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares of the company’s stock, valued at $92,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.30% of the company’s stock.

Institutional Trading of ACCO Brands

A number of large investors have recently bought and sold shares of ACCO. Allspring Global Investments Holdings LLC grew its position in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares in the last quarter. Wellington Management Group LLP grew its position in shares of ACCO Brands by 7.7% in the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock valued at $31,999,000 after purchasing an additional 396,588 shares in the last quarter. LSV Asset Management grew its position in shares of ACCO Brands by 0.7% in the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock valued at $19,022,000 after purchasing an additional 24,900 shares in the last quarter. Capital Management Corp VA grew its position in shares of ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after purchasing an additional 1,802,250 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ACCO Brands by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after purchasing an additional 68,416 shares in the last quarter. 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.