ACCO Brands (NYSE:ACCO) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of ACCO Brands (NYSE:ACCOGet Rating) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded ACCO Brands from a buy rating to a hold rating in a research report on Friday, April 29th. TheStreet downgraded ACCO Brands from a b rating to a c+ rating in a research report on Wednesday, April 27th.

NYSE:ACCO opened at $7.45 on Wednesday. The firm has a market capitalization of $722.55 million, a price-to-earnings ratio of 6.06 and a beta of 1.90. ACCO Brands has a 52-week low of $6.96 and a 52-week high of $9.76. The stock has a fifty day moving average of $7.62 and a 200 day moving average of $8.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.85 and a current ratio of 1.68.

ACCO Brands (NYSE:ACCOGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $441.60 million during the quarter, compared to analyst estimates of $420.45 million. ACCO Brands had a return on equity of 16.57% and a net margin of 5.82%. During the same quarter last year, the company earned $0.10 earnings per share. Equities analysts forecast that ACCO Brands will post 1.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Shareholders of record on Friday, May 27th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, May 26th. This represents a $0.30 annualized dividend and a yield of 4.03%. ACCO Brands’s payout ratio is 24.39%.

In other ACCO Brands news, COO Thomas W. Tedford sold 92,838 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total transaction of $793,764.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neal V. Fenwick sold 66,313 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $8.60, for a total transaction of $570,291.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,886 shares of company stock worth $1,791,778. Insiders own 6.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC boosted its stake in ACCO Brands by 2.1% in the third quarter. Voya Investment Management LLC now owns 57,942 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 1,211 shares in the last quarter. Secure Asset Management LLC raised its holdings in shares of ACCO Brands by 11.2% during the fourth quarter. Secure Asset Management LLC now owns 16,690 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,684 shares during the last quarter. Captrust Financial Advisors increased its holdings in ACCO Brands by 50.8% in the third quarter. Captrust Financial Advisors now owns 5,575 shares of the industrial products company’s stock valued at $48,000 after buying an additional 1,878 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in ACCO Brands by 36.0% in the first quarter. Great West Life Assurance Co. Can now owns 7,435 shares of the industrial products company’s stock valued at $62,000 after buying an additional 1,968 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in ACCO Brands by 4.2% in the fourth quarter. Deutsche Bank AG now owns 57,151 shares of the industrial products company’s stock valued at $473,000 after buying an additional 2,288 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors.

About ACCO Brands (Get Rating)

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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, 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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