ACCO Brands (NYSE:ACCO) Downgraded by StockNews.com

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Barrington Research dropped their price objective on ACCO Brands from $7.50 to $7.00 and set an outperform rating for the company in a report on Thursday, June 6th.

ACCO Brands Price Performance

Shares of ACCO Brands stock opened at $4.55 on Friday. The stock has a market capitalization of $434.98 million, a price-to-earnings ratio of -16.85, a PEG ratio of 0.40 and a beta of 1.62. ACCO Brands has a 1-year low of $4.36 and a 1-year high of $6.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $4.83 and a 200-day simple moving average of $5.27.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The firm had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts expect that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend is Friday, August 16th. ACCO Brands’s dividend payout ratio is -111.11%.

Hedge Funds Weigh In On ACCO Brands

A number of hedge funds have recently added to or reduced their stakes in ACCO. New York State Teachers Retirement System acquired a new stake in ACCO Brands in the fourth quarter valued at approximately $50,000. Innealta Capital LLC acquired a new stake in ACCO Brands in the first quarter valued at approximately $65,000. Gladius Capital Management LP bought a new position in ACCO Brands in the 4th quarter valued at about $73,000. Somerset Trust Co purchased a new stake in shares of ACCO Brands during the second quarter valued at approximately $57,000. Finally, SG Americas Securities LLC purchased a new stake in ACCO Brands in the first quarter worth $71,000. Institutional investors own 84.56% of the company’s stock.

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.