ACCO Brands (ACCO) Reaches New 12-Month Low at $7.35

ACCO Brands Co. (NYSE:ACCO)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.35 and last traded at $7.45, with a volume of 17449 shares traded. The stock had previously closed at $7.52.

A number of equities analysts have issued reports on the stock. ValuEngine lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Barrington Research set a $13.00 target price on shares of ACCO Brands and gave the company a “buy” rating in a report on Monday, November 5th. Finally, TheStreet lowered shares of ACCO Brands from a “b-” rating to a “c+” rating in a report on Friday, November 16th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.25.

The company has a current ratio of 1.63, a quick ratio of 1.03 and a debt-to-equity ratio of 1.28. The firm has a market cap of $766.44 million, a price-to-earnings ratio of 6.07, a P/E/G ratio of 0.64 and a beta of 1.66.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. ACCO Brands’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. As a group, analysts predict that ACCO Brands Co. will post 1.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, November 29th. ACCO Brands’s dividend payout ratio (DPR) is 20.17%.

In related news, SVP Pamela R. Schneider purchased 3,100 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average price of $8.10 per share, with a total value of $25,110.00. Following the acquisition, the senior vice president now owns 81,788 shares in the company, valued at $662,482.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Boris Elisman purchased 6,547 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average cost of $7.72 per share, with a total value of $50,542.84. Following the acquisition, the chairman now owns 798,917 shares in the company, valued at approximately $6,167,639.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 19,647 shares of company stock valued at $156,253. Insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its holdings in ACCO Brands by 2.7% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,298,734 shares of the industrial products company’s stock worth $31,837,000 after acquiring an additional 59,472 shares in the last quarter. SG Americas Securities LLC boosted its stake in ACCO Brands by 90.3% during the 2nd quarter. SG Americas Securities LLC now owns 39,844 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 18,907 shares during the last quarter. California Public Employees Retirement System boosted its stake in ACCO Brands by 16.4% during the 2nd quarter. California Public Employees Retirement System now owns 278,516 shares of the industrial products company’s stock worth $3,857,000 after purchasing an additional 39,195 shares during the last quarter. KBC Group NV boosted its stake in ACCO Brands by 54.3% during the 2nd quarter. KBC Group NV now owns 80,887 shares of the industrial products company’s stock worth $1,120,000 after purchasing an additional 28,454 shares during the last quarter. Finally, ICM Asset Management Inc. WA boosted its stake in ACCO Brands by 35.6% during the 3rd quarter. ICM Asset Management Inc. WA now owns 139,000 shares of the industrial products company’s stock worth $1,571,000 after purchasing an additional 36,500 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

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ACCO Brands Company Profile (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.

Read More: Earnings Per Share (EPS)

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