StockNews.com downgraded shares of ACCO Brands (NYSE:ACCO – Free Report) from a buy rating to a hold rating in a report released on Monday morning.
Separately, Barrington Research reaffirmed an outperform rating and set a $7.50 price objective on shares of ACCO Brands in a research report on Thursday, February 29th.
View Our Latest Research Report on ACCO Brands
ACCO Brands Stock Up 1.7 %
ACCO Brands (NYSE:ACCO – Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $358.90 million for the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.19%. ACCO Brands’s revenue was down 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that ACCO Brands will post 1.07 EPS for the current fiscal year.
ACCO Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 5.88%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.
Insider Activity
In other news, SVP Angela Y. Jones sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total transaction of $74,400.00. Following the transaction, the senior vice president now owns 18,621 shares in the company, valued at $92,360.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.
Institutional Trading of ACCO Brands
Several large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new position in shares of ACCO Brands during the fourth quarter worth $50,000. MQS Management LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $66,000. SG Americas Securities LLC acquired a new position in shares of ACCO Brands in the 1st quarter valued at $71,000. Gladius Capital Management LP acquired a new stake in ACCO Brands during the fourth quarter valued at $73,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in ACCO Brands in the third quarter valued at $82,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.
ACCO Brands Company Profile
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.
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