ACCO Brands (NYSE:ACCO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Separately, Barrington Research boosted their price objective on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

ACCO Brands Stock Down 2.4 %

Shares of ACCO Brands stock opened at $5.30 on Friday. ACCO Brands has a twelve month low of $4.36 and a twelve month high of $6.62. The stock has a market capitalization of $492.27 million, a price-to-earnings ratio of -2.80, a PEG ratio of 0.48 and a beta of 1.67. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The business’s 50 day simple moving average is $5.65 and its 200-day simple moving average is $5.24.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Equities research analysts forecast that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 5.66%. The ex-dividend date was Friday, November 15th. ACCO Brands’s payout ratio is currently -15.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in ACCO Brands by 123.0% during the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 3,260 shares during the period. nVerses Capital LLC boosted its position in shares of ACCO Brands by 68.3% during the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 2,800 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of ACCO Brands in the 3rd quarter worth approximately $61,000. Y Intercept Hong Kong Ltd bought a new stake in shares of ACCO Brands in the 3rd quarter worth approximately $63,000. Finally, Nisa Investment Advisors LLC lifted its stake in ACCO Brands by 841.0% during the second quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 14,507 shares during the last quarter. 84.56% of the stock is currently owned by 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.