ACCO Brands (ACCO) Reaches New 1-Year Low at $10.12

Shares of ACCO Brands Co. (NYSE:ACCO) hit a new 52-week low on Tuesday . The company traded as low as $10.12 and last traded at $10.32, with a volume of 13509 shares changing hands. The stock had previously closed at $10.22.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of ACCO Brands from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, Noble Financial reissued a “buy” rating and issued a $15.00 price target on shares of ACCO Brands in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.40.

The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.58, a PEG ratio of 0.85 and a beta of 1.21. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 1.35.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $498.80 million for the quarter, compared to the consensus estimate of $493.85 million. ACCO Brands had a return on equity of 17.95% and a net margin of 7.02%. ACCO Brands’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities analysts predict that ACCO Brands Co. will post 1.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Friday, August 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, August 30th. ACCO Brands’s payout ratio is 20.17%.

In other news, SVP Gregory J. Mccormack sold 15,678 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the completion of the transaction, the senior vice president now directly owns 81,079 shares of the company’s stock, valued at approximately $1,007,001.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in ACCO Brands by 0.3% during the 1st quarter. Northern Trust Corp now owns 2,379,739 shares of the industrial products company’s stock valued at $29,866,000 after purchasing an additional 7,394 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in ACCO Brands by 37.3% during the 1st quarter. New York State Common Retirement Fund now owns 156,937 shares of the industrial products company’s stock valued at $1,970,000 after purchasing an additional 42,637 shares during the last quarter. Citigroup Inc. lifted its holdings in ACCO Brands by 30.8% during the 1st quarter. Citigroup Inc. now owns 35,648 shares of the industrial products company’s stock valued at $447,000 after purchasing an additional 8,387 shares during the last quarter. Koch Industries Inc. bought a new position in ACCO Brands during the 1st quarter valued at about $153,000. Finally, Bayesian Capital Management LP bought a new position in ACCO Brands during the 1st quarter valued at about $170,000. 89.54% of the stock is owned by institutional investors.

About ACCO Brands (NYSE:ACCO)

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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