StockNews.com downgraded shares of ACCO Brands (NYSE:ACCO – Free Report) from a buy rating to a hold rating in a report published on Monday.
Separately, Barrington Research reissued an outperform rating and issued a $7.50 price objective on shares of ACCO Brands in a research note on Thursday, February 29th.
Get Our Latest Research Report on ACCO Brands
ACCO Brands Stock Performance
ACCO Brands (NYSE:ACCO – Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that ACCO Brands will post 1.07 EPS for the current fiscal year.
ACCO Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.30 annualized dividend and a yield of 6.02%. ACCO Brands’s payout ratio is currently -111.11%.
Institutional Investors Weigh In On ACCO Brands
Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in shares of ACCO Brands in the fourth quarter valued at about $50,000. MQS Management LLC purchased a new position in shares of ACCO Brands in the 3rd quarter valued at $66,000. SG Americas Securities LLC bought a new position in shares of ACCO Brands in the 1st quarter worth $71,000. Gladius Capital Management LP purchased a new stake in shares of ACCO Brands during the 4th quarter worth $73,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in ACCO Brands during the third quarter valued at about $82,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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