ValuEngine upgraded shares of ACCO Brands (NYSE:ACCO) from a sell rating to a hold rating in a research report report published on Tuesday morning.
Several other equities analysts also recently weighed in on the company. Noble Financial reaffirmed a buy rating and issued a $15.00 price objective on shares of ACCO Brands in a research note on Monday, August 6th. Zacks Investment Research downgraded ACCO Brands from a hold rating to a sell rating in a research note on Thursday, August 2nd. Finally, Barrington Research reaffirmed a buy rating and issued a $16.00 price objective on shares of ACCO Brands in a research note on Thursday, June 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ACCO Brands has a consensus rating of Buy and a consensus price target of $15.40.
NYSE ACCO opened at $12.00 on Tuesday. ACCO Brands has a 1-year low of $10.68 and a 1-year high of $14.63. The company has a market capitalization of $1.33 billion, a P/E ratio of 10.34, a PEG ratio of 0.93 and a beta of 1.18. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 1.35.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). ACCO Brands had a net margin of 7.02% and a return on equity of 17.95%. The firm had revenue of $498.80 million during the quarter, compared to analysts’ expectations of $493.85 million. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. equities research analysts expect that ACCO Brands will post 1.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Friday, August 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, August 30th. ACCO Brands’s payout ratio is currently 20.17%.
In other ACCO Brands news, SVP Gregory J. Mccormack sold 15,678 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $12.42, for a total transaction of $194,720.76. Following the completion of the transaction, the senior vice president now owns 81,079 shares of the company’s stock, valued at $1,007,001.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph S. Pekala sold 20,473 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $13.52, for a total value of $276,794.96. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its position in ACCO Brands by 91.7% during the second quarter. Public Employees Retirement System of Ohio now owns 94,673 shares of the industrial products company’s stock worth $1,311,000 after buying an additional 45,277 shares in the last quarter. California Public Employees Retirement System increased its position in ACCO Brands by 16.4% during the second quarter. California Public Employees Retirement System now owns 278,516 shares of the industrial products company’s stock worth $3,857,000 after buying an additional 39,195 shares in the last quarter. Zebra Capital Management LLC increased its position in ACCO Brands by 30.7% during the second quarter. Zebra Capital Management LLC now owns 78,784 shares of the industrial products company’s stock worth $1,091,000 after buying an additional 18,488 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in ACCO Brands during the second quarter worth $881,000. Finally, MetLife Investment Advisors LLC increased its position in ACCO Brands by 11.9% during the second quarter. MetLife Investment Advisors LLC now owns 48,975 shares of the industrial products company’s stock worth $678,000 after buying an additional 5,210 shares in the last quarter. 89.50% of the stock is owned by institutional investors.
About ACCO Brands
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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