ACCO Brands (ACCO) Hits New 1-Year Low at $7.35

Shares of ACCO Brands Co. (NYSE:ACCO) hit a new 52-week low during trading on Thursday . The stock traded as low as $7.35 and last traded at $7.45, with a volume of 17449 shares changing hands. The stock had previously closed at $7.52.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Barrington Research set a $13.00 price objective on shares of ACCO Brands and gave the stock a “buy” rating in a report on Monday, November 5th. ValuEngine downgraded shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, TheStreet downgraded shares of ACCO Brands from a “b-” rating to a “c+” rating in a report on Friday, November 16th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.25.

The company has a current ratio of 1.63, a quick ratio of 1.03 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $772.60 million, a PE ratio of 6.27, a PEG ratio of 0.64 and a beta of 1.66.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The company had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. During the same quarter last year, the business posted $0.35 EPS. The business’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts forecast that ACCO Brands Co. will post 1.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 30th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 3.22%. ACCO Brands’s dividend payout ratio (DPR) is presently 20.17%.

In other ACCO Brands news, SVP Pamela R. Schneider bought 3,100 shares of ACCO Brands stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $8.10 per share, for a total transaction of $25,110.00. Following the completion of the purchase, the senior vice president now directly owns 81,788 shares of the company’s stock, valued at $662,482.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Neal V. Fenwick bought 10,000 shares of ACCO Brands stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average price of $8.06 per share, with a total value of $80,600.00. Following the purchase, the vice president now directly owns 520,225 shares of the company’s stock, valued at $4,193,013.50. The disclosure for this purchase can be found here. Insiders have purchased 19,647 shares of company stock valued at $156,253 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ACCO. Dalton Greiner Hartman Maher & Co. increased its stake in shares of ACCO Brands by 562.2% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,442,605 shares of the industrial products company’s stock worth $16,301,000 after purchasing an additional 1,224,768 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ACCO Brands by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 5,903,441 shares of the industrial products company’s stock worth $66,708,000 after purchasing an additional 449,077 shares in the last quarter. United Services Automobile Association increased its stake in shares of ACCO Brands by 25.8% in the second quarter. United Services Automobile Association now owns 1,276,938 shares of the industrial products company’s stock worth $17,686,000 after purchasing an additional 261,490 shares in the last quarter. New Amsterdam Partners LLC NY purchased a new position in shares of ACCO Brands in the third quarter worth about $2,454,000. Finally, Morgan Stanley boosted its position in shares of ACCO Brands by 15.3% in the third quarter. Morgan Stanley now owns 1,363,570 shares of the industrial products company’s stock valued at $15,407,000 after acquiring an additional 180,653 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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ACCO Brands Company Profile (NYSE:ACCO)

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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