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

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a buy rating to a strong-buy rating in a research note released on Thursday.

Separately, Barrington Research boosted their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

ACCO Brands Stock Up 0.7 %

NYSE:ACCO opened at $6.04 on Thursday. The firm has a 50-day simple moving average of $5.60 and a two-hundred day simple moving average of $5.22. The firm has a market cap of $561.00 million, a P/E ratio of -3.20, a P/E/G ratio of 0.49 and a beta of 1.67. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results 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 company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts predict that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.97%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Hedge Funds Weigh In On ACCO Brands

Several institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its stake in shares of ACCO Brands by 15.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 98,646 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 13,335 shares in the last quarter. Virtu Financial LLC bought a new stake in ACCO Brands during the third quarter valued at about $188,000. Barclays PLC increased its position in ACCO Brands by 285.3% in the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after buying an additional 109,813 shares in the last quarter. Arete Wealth Advisors LLC lifted its position in shares of ACCO Brands by 30.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock valued at $252,000 after buying an additional 10,801 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in ACCO Brands by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after acquiring an additional 53,490 shares in the last quarter. Institutional investors 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.