ACCO Brands (NYSE:ACCO) Rating Lowered to “Hold” at StockNews.com

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

Separately, Barrington Research cut their price objective on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th.

ACCO Brands Trading Up 0.1 %

NYSE:ACCO opened at $4.57 on Thursday. ACCO Brands has a fifty-two week low of $4.30 and a fifty-two week high of $6.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The stock has a market capitalization of $424.00 million, a PE ratio of -4.31, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The business’s 50-day simple moving average is $4.97 and its 200-day simple moving average is $5.30.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The business had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. Sell-side analysts expect that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date is Friday, March 14th. ACCO Brands’s dividend payout ratio is presently -28.30%.

Institutional Investors Weigh In On ACCO Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of ACCO. FMR LLC raised its position in ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,260 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of ACCO Brands during the 3rd quarter worth approximately $61,000. Burns Matteson Capital Management LLC acquired a new position in shares of ACCO Brands during the 4th quarter worth approximately $61,000. Y Intercept Hong Kong Ltd acquired a new position in shares of ACCO Brands during the 3rd quarter worth approximately $63,000. Finally, Xponance Inc. acquired a new position in shares of ACCO Brands during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds 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.