ACCO Brands (NYSE:ACCO) Shares Gap Up – Time to Buy?

Shares of ACCO Brands Co. (NYSE:ACCO) gapped up before the market opened on Friday . The stock had previously closed at $4.90, but opened at $5.25. ACCO Brands shares last traded at $5.28, with a volume of 713,232 shares trading hands.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Stock Performance

The company has a market cap of $505.82 million, a P/E ratio of -2.87, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The company’s 50-day moving average is $5.25 and its two-hundred day moving average is $5.02.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The business had revenue of $420.90 million for the quarter, compared to the consensus estimate of $418.20 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. Equities analysts predict that ACCO Brands Co. will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, November 15th. ACCO Brands’s payout ratio is -16.39%.

Insider Transactions at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the sale, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

A number of institutional investors and hedge funds have recently bought and sold shares of ACCO. Allspring Global Investments Holdings LLC raised its stake in ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in ACCO Brands in the first quarter worth $117,000. Prosperity Consulting Group LLC purchased a new stake in ACCO Brands in the first quarter worth $517,000. BNP Paribas Financial Markets lifted its position in ACCO Brands by 96.7% during the first quarter. BNP Paribas Financial Markets now owns 134,397 shares of the industrial products company’s stock valued at $754,000 after buying an additional 66,070 shares during the period. Finally, GSA Capital Partners LLP lifted its position in ACCO Brands by 12.2% during the first quarter. GSA Capital Partners LLP now owns 159,258 shares of the industrial products company’s stock valued at $893,000 after buying an additional 17,255 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.