ACCO Brands (NYSE:ACCO) Lifted to Buy 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 Saturday.

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

ACCO Brands Trading Down 1.7 %

NYSE:ACCO traded down $0.08 on Friday, hitting $4.74. 407,122 shares of the stock were exchanged, compared to its average volume of 645,207. The stock has a market cap of $453.14 million, a PE ratio of -17.56, a PEG ratio of 0.40 and a beta of 1.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average of $4.80 and a 200-day moving average of $5.24. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The company had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue was down 11.3% on a year-over-year basis. As a group, equities analysts expect that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Friday, August 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in ACCO Brands by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after buying an additional 706,291 shares during the last quarter. LSV Asset Management lifted its holdings in ACCO Brands by 0.7% during the 1st quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock worth $19,022,000 after buying an additional 24,900 shares during the last quarter. Capital Management Corp VA lifted its holdings in ACCO Brands by 286.7% during the 1st quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after buying an additional 1,802,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ACCO Brands by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after buying an additional 68,416 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ACCO Brands by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,299,759 shares of the industrial products company’s stock worth $6,109,000 after buying an additional 76,840 shares during the last quarter. Hedge funds and other institutional investors 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.