ACCO Brands (NYSE:ACCO) Shares Gap Up – Time to Buy?

ACCO Brands Co. (NYSE:ACCO) shares gapped up prior to trading on Friday . The stock had previously closed at $4.90, but opened at $5.25. ACCO Brands shares last traded at $5.28, with a volume of 713,232 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on ACCO shares. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Barrington Research restated an “outperform” rating and set a $7.00 price target on shares of ACCO Brands in a research note on Wednesday, September 4th.

ACCO Brands Trading Up 7.8 %

The stock has a 50 day moving average of $5.25 and a 200-day moving average of $5.02. The company has a market capitalization of $505.82 million, a P/E ratio of -2.87, a P/E/G ratio of 0.40 and a beta of 1.62. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, research analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a $0.075 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.68%. ACCO Brands’s dividend payout ratio is presently -16.39%.

Insider Buying and Selling

In related news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the transaction, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is owned by insiders.

Institutional Trading of ACCO Brands

Hedge funds have recently modified their holdings of the company. Easterly Investment Partners LLC grew its position in ACCO Brands by 20.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 222,762 shares of the industrial products company’s stock valued at $1,219,000 after acquiring an additional 37,157 shares during the last quarter. Capital Management Corp VA grew its position in ACCO Brands by 14.3% in the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after acquiring an additional 439,810 shares during the last quarter. Stephens Inc. AR bought a new position in ACCO Brands in the 3rd quarter valued at $131,000. Wealth Enhancement Advisory Services LLC bought a new position in ACCO Brands in the 3rd quarter valued at $86,000. Finally, Assenagon Asset Management S.A. grew its position in ACCO Brands by 21.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 998,189 shares of the industrial products company’s stock valued at $5,460,000 after acquiring an additional 178,921 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.