ACCO Brands (NYSE:ACCO) Price Target Raised to $7.50

ACCO Brands (NYSE:ACCO) had its price objective upped by Barrington Research from $7.00 to $7.50 in a report published on Friday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Separately, StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Stock Up 2.6 %

Shares of ACCO Brands stock opened at $5.82 on Friday. The business has a fifty day simple moving average of $5.41 and a 200 day simple moving average of $5.13. The stock has a market cap of $540.56 million, a PE ratio of -3.08, a price-to-earnings-growth ratio of 0.45 and a beta of 1.63. ACCO Brands has a 12 month low of $4.36 and a 12 month high of $6.62. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. ACCO Brands’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Research analysts predict that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Friday, November 15th. ACCO Brands’s dividend payout ratio is currently -15.87%.

Insider Buying and Selling

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the transaction, the senior vice president now directly owns 243,899 shares in the company, valued at approximately $1,334,127.53. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of ACCO Brands

Large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of ACCO Brands during the third quarter worth $188,000. Barclays PLC lifted its holdings in ACCO Brands by 285.3% during the 3rd quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after purchasing an additional 109,813 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in ACCO Brands by 30.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 10,801 shares in the last quarter. Geode Capital Management LLC boosted its stake in ACCO Brands by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after purchasing an additional 53,490 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in ACCO Brands during the 3rd quarter valued at about $63,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.