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.
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.
COPYRIGHT VIOLATION WARNING: This story was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.chaffeybreeze.com/2018/12/08/acco-brands-acco-reaches-new-12-month-low-at-7-35.html.
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)
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.