ACCO Brands (NYSE:ACCO) Downgraded to “Hold” at StockNews.com

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

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

ACCO Brands Stock Performance

Shares of ACCO opened at $4.75 on Friday. The firm has a market capitalization of $454.10 million, a P/E ratio of -17.59, a PEG ratio of 0.37 and a beta of 1.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. The business has a fifty day moving average of $5.00 and a 200 day moving average of $5.54. ACCO Brands has a one year low of $4.62 and a one year high of $6.62.

ACCO Brands (NYSE:ACCO) last released its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The company had revenue of $358.90 million for the quarter, compared to the consensus estimate of $371.80 million. During the same period in the previous year, the business earned $0.09 earnings per share. ACCO Brands’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACCO Brands will post 1.05 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.30 annualized dividend and a yield of 6.32%. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Insider Buying and Selling at ACCO Brands

In other 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 owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Trading of ACCO Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCO. Charles Schwab Investment Management Inc. lifted its position in ACCO Brands by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,353,607 shares of the industrial products company’s stock worth $13,510,000 after acquiring an additional 147,196 shares during the period. WINTON GROUP Ltd lifted its position in ACCO Brands by 15.1% during the 3rd quarter. WINTON GROUP Ltd now owns 17,172 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 2,255 shares during the period. Aigen Investment Management LP lifted its position in ACCO Brands by 31.9% during the 3rd quarter. Aigen Investment Management LP now owns 44,389 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 10,729 shares during the period. Brandywine Global Investment Management LLC raised its stake in shares of ACCO Brands by 11.7% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 301,017 shares of the industrial products company’s stock valued at $1,728,000 after buying an additional 31,559 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of ACCO Brands during the 3rd quarter valued at about $1,628,000. Institutional investors and hedge funds 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.