ACCO Brands (NYSE:ACCO) Stock Price Expected to Rise, Barrington Research Analyst Says

ACCO Brands (NYSE:ACCO) had its price objective hoisted by Barrington Research from $7.00 to $7.50 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Separately, StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Price Performance

ACCO stock opened at $5.82 on Friday. The company has a market capitalization of $540.57 million, a P/E ratio of -3.08, a PEG ratio of 0.46 and a beta of 1.63. ACCO Brands has a twelve month low of $4.36 and a twelve month high of $6.62. The business has a 50 day simple moving average of $5.41 and a 200-day simple moving average of $5.13. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The business 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 14.30% and a negative net margin of 10.64%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, equities analysts anticipate that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The business 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 dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is presently -15.87%.

Insider Buying and Selling

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new stake in ACCO Brands in the first quarter valued at $810,000. Caxton Associates LP lifted its holdings in ACCO Brands by 421.5% in the first quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock valued at $842,000 after acquiring an additional 121,331 shares during the period. Foundry Partners LLC lifted its holdings in ACCO Brands by 15.7% in the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock valued at $4,189,000 after acquiring an additional 104,160 shares during the period. Bank of Montreal Can acquired a new stake in ACCO Brands in the second quarter valued at $4,588,000. Finally, Capital Management Corp VA lifted its holdings in ACCO Brands by 14.3% in the third 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 period. Institutional investors and hedge funds own 84.56% of the company’s stock.

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.