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

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a research note published on Tuesday morning.

Separately, Barrington Research reaffirmed an outperform rating and issued a $7.50 target price on shares of ACCO Brands in a research note on Thursday, February 29th.

ACCO Brands Stock Performance

NYSE ACCO opened at $5.04 on Tuesday. ACCO Brands has a 52-week low of $4.64 and a 52-week high of $6.62. The company has a 50-day simple moving average of $5.15 and a 200 day simple moving average of $5.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.69. The company has a market capitalization of $481.82 million, a PE ratio of -18.67, a price-to-earnings-growth ratio of 0.39 and a beta of 1.66.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $358.90 million during the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.42%. The company’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. On average, research analysts predict that ACCO Brands will post 1.07 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Thursday, May 16th. ACCO Brands’s payout ratio is -111.11%.

Insiders Place Their Bets

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Management Corp VA raised its holdings in shares of ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after acquiring an additional 1,802,250 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after acquiring an additional 706,291 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ACCO Brands by 110.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,187,604 shares of the industrial products company’s stock valued at $6,817,000 after acquiring an additional 622,830 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of ACCO Brands by 581.0% in the third quarter. Kingsview Wealth Management LLC now owns 552,971 shares of the industrial products company’s stock valued at $3,174,000 after acquiring an additional 471,772 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ACCO Brands by 7.7% in the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock valued at $31,999,000 after acquiring an additional 396,588 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other 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.