ACCO Brands (NYSE:ACCO) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a research note published on Friday.

Separately, Barrington Research reduced their price objective on ACCO Brands from $7.50 to $7.00 and set an outperform rating for the company in a research note on Thursday, June 6th.

ACCO Brands Stock Down 2.2 %

Shares of NYSE:ACCO opened at $4.55 on Friday. The company has a fifty day moving average of $4.83 and a 200-day moving average of $5.27. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.69. ACCO Brands has a 52-week low of $4.36 and a 52-week high of $6.62. The company has a market capitalization of $434.98 million, a PE ratio of -16.85, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The company’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, equities analysts predict that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be given a $0.075 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.30 annualized dividend and a yield of 6.59%. ACCO Brands’s dividend payout ratio is currently -111.11%.

Institutional Investors Weigh In On ACCO Brands

A number of hedge funds have recently modified their holdings of ACCO. New York State Teachers Retirement System purchased a new stake in shares of ACCO Brands in the fourth quarter worth $50,000. Somerset Trust Co bought a new stake in shares of ACCO Brands in the 2nd quarter worth approximately $57,000. Innealta Capital LLC bought a new stake in shares of ACCO Brands during the first quarter valued at approximately $65,000. SG Americas Securities LLC bought a new position in shares of ACCO Brands during the first quarter valued at $71,000. Finally, Gladius Capital Management LP purchased a new position in ACCO Brands in the 4th quarter worth about $73,000. Institutional investors own 84.56% of the company’s stock.

About ACCO Brands

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.