ACCO Brands Co. (NYSE:ACCO) CEO Boris Elisman sold 182,638 shares of ACCO Brands stock in a transaction on Monday, September 9th. The shares were sold at an average price of $9.45, for a total transaction of $1,725,929.10. Following the completion of the transaction, the chief executive officer now owns 1,192,014 shares in the company, valued at $11,264,532.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ACCO Brands stock traded up $0.23 during trading hours on Monday, reaching $9.54. 643,683 shares of the stock were exchanged, compared to its average volume of 579,034. ACCO Brands Co. has a 52-week low of $6.07 and a 52-week high of $12.40. The stock has a market cap of $909.54 million, a P/E ratio of 8.37, a P/E/G ratio of 1.11 and a beta of 1.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.20 and a current ratio of 1.94. The firm’s 50 day moving average is $9.11 and its 200 day moving average is $8.54.
ACCO Brands (NYSE:ACCO) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. ACCO Brands had a net margin of 5.43% and a return on equity of 16.06%. The business had revenue of $518.70 million for the quarter, compared to the consensus estimate of $493.89 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that ACCO Brands Co. will post 1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, August 23rd will be given a $0.06 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.52%. ACCO Brands’s payout ratio is currently 21.05%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its stake in ACCO Brands by 24.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,359 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 3,451 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of ACCO Brands by 159.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 24,297 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 14,923 shares in the last quarter. SG Americas Securities LLC grew its stake in ACCO Brands by 183.1% during the 1st quarter. SG Americas Securities LLC now owns 34,673 shares of the industrial products company’s stock worth $297,000 after buying an additional 22,426 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in ACCO Brands by 18.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 743,694 shares of the industrial products company’s stock worth $6,364,000 after buying an additional 114,775 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its position in ACCO Brands by 9.4% during the 1st quarter. IndexIQ Advisors LLC now owns 183,197 shares of the industrial products company’s stock valued at $1,568,000 after buying an additional 15,726 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on ACCO. TheStreet upgraded ACCO Brands from a “c+” rating to a “b-” rating in a research report on Wednesday, August 21st. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday, August 2nd. Noble Financial reiterated a “buy” rating and issued a $14.00 target price on shares of ACCO Brands in a research note on Thursday, August 8th. Finally, ValuEngine raised ACCO Brands from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.00.
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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.
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