ACCO Brands Co. (NYSE:ACCO) – Equities researchers at Barrington Research cut their Q4 2018 earnings per share (EPS) estimates for shares of ACCO Brands in a report issued on Monday, November 5th. Barrington Research analyst K. Steinke now expects that the industrial products company will earn $0.43 per share for the quarter, down from their prior forecast of $0.58. Barrington Research currently has a “Buy” rating and a $13.00 price objective on the stock.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The business had revenue of $507.30 million for the quarter, compared to analyst estimates of $533.26 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis.
Shares of ACCO opened at $8.56 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.03. The stock has a market capitalization of $883.56 million, a PE ratio of 7.19, a PEG ratio of 0.74 and a beta of 1.65. ACCO Brands has a one year low of $7.39 and a one year high of $14.63.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.80%. ACCO Brands’s dividend payout ratio is presently 20.17%.
In other news, Chairman Boris Elisman bought 6,547 shares of ACCO Brands stock in a transaction dated Wednesday, October 31st. The stock was bought at an average cost of $7.72 per share, for a total transaction of $50,542.84. Following the purchase, the chairman now directly owns 798,917 shares in the company, valued at approximately $6,167,639.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory J. Mccormack sold 15,678 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total value of $194,720.76. Following the completion of the sale, the senior vice president now owns 81,079 shares of the company’s stock, valued at $1,007,001.18. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 19,647 shares of company stock valued at $156,253. 4.50% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new position in ACCO Brands during the 3rd quarter valued at about $119,000. Meeder Asset Management Inc. boosted its stake in ACCO Brands by 710.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 9,687 shares during the last quarter. Sun Life Financial INC acquired a new position in ACCO Brands during the 2nd quarter valued at about $140,000. Hartford Investment Management Co. acquired a new position in ACCO Brands during the 2nd quarter valued at about $183,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in ACCO Brands by 27.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 5,380 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.
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.
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.