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

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Barrington Research decreased their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday.

ACCO Brands Price Performance

Shares of ACCO opened at $4.68 on Wednesday. The firm has a fifty day moving average price of $5.15 and a 200 day moving average price of $5.37. ACCO Brands has a 1-year low of $4.30 and a 1-year high of $6.43. 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 cap of $434.22 million, a PE ratio of -4.41, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68.

ACCO Brands (NYSE:ACCO) last announced its earnings results 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 positive return on equity of 14.96% and a negative net margin of 6.10%. The business had revenue of $448.10 million for the quarter, compared to analyst estimates of $455.06 million. As a group, sell-side analysts anticipate that ACCO Brands will post 1.02 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 6.42%. ACCO Brands’s dividend payout ratio (DPR) is -28.30%.

Institutional Investors Weigh In On ACCO Brands

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 3,260 shares during the period. EP Wealth Advisors LLC acquired a new stake in ACCO Brands in the third quarter valued at about $61,000. Y Intercept Hong Kong Ltd acquired a new stake in ACCO Brands in the third quarter valued at about $63,000. Burns Matteson Capital Management LLC acquired a new stake in ACCO Brands in the fourth quarter valued at about $61,000. Finally, Xponance Inc. acquired a new stake in ACCO Brands in the fourth quarter valued at about $65,000. Institutional investors and hedge funds 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.