ACCO Brands’ (ACCO) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of ACCO Brands (NYSE:ACCO) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $7.00 target price on the industrial products company’s stock. Barrington Research also issued estimates for ACCO Brands’ Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.42 EPS, FY2024 earnings at $1.04 EPS and FY2025 earnings at $1.08 EPS.

Separately, StockNews.com raised shares of ACCO Brands from a hold rating to a buy rating in a research note on Saturday, August 10th.

ACCO Brands Trading Down 2.4 %

ACCO stock opened at $5.19 on Wednesday. The company has a market cap of $496.16 million, a price-to-earnings ratio of -19.22, a PEG ratio of 0.44 and a beta of 1.62. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62. The business has a fifty day simple moving average of $4.97 and a 200-day simple moving average of $5.09.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The business had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same period in the previous year, the company earned $0.38 EPS. The firm’s revenue was down 11.3% on a year-over-year basis. On average, equities research analysts expect that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.78%. ACCO Brands’s payout ratio is -111.11%.

Insider Buying and Selling

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares in the company, valued at $1,334,127.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACCO Brands

Several hedge funds have recently made changes to their positions in ACCO. Allspring Global Investments Holdings LLC grew its holdings in shares of ACCO Brands by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after purchasing an additional 706,291 shares during the period. LSV Asset Management boosted its position in shares of ACCO Brands by 0.7% in the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock worth $19,022,000 after buying an additional 24,900 shares during the period. Capital Management Corp VA lifted its stake in shares of ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after acquiring an additional 1,802,250 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ACCO Brands by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after purchasing an additional 68,416 shares during the period. Finally, AQR Capital Management LLC grew its holdings in ACCO Brands by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after buying an additional 426,201 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

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.