Barrington Research Issues Positive Forecast for ACCO Brands (NYSE:ACCO) Stock Price

ACCO Brands (NYSE:ACCO) had its target price lifted by Barrington Research from $7.00 to $7.50 in a research note released on Friday morning,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 Trading Up 2.6 %

Shares of ACCO stock opened at $5.82 on Friday. The company’s 50-day moving average price is $5.41 and its 200-day moving average price is $5.13. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock has a market cap of $540.57 million, a price-to-earnings ratio of -3.08, a PEG ratio of 0.46 and a beta of 1.63. ACCO Brands has a twelve month low of $4.36 and a twelve month high of $6.62.

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

ACCO Brands Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of ACCO Brands

A number of large investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new position in ACCO Brands in the first quarter valued at approximately $810,000. Caxton Associates LP increased its stake in ACCO Brands by 421.5% in the first quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock valued at $842,000 after purchasing an additional 121,331 shares during the last quarter. Foundry Partners LLC increased its stake in ACCO Brands by 15.7% in the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock valued at $4,189,000 after purchasing an additional 104,160 shares during the last quarter. Bank of Montreal Can purchased a new position in ACCO Brands in the second quarter valued at approximately $4,588,000. Finally, Capital Management Corp VA increased its stake in ACCO Brands by 14.3% in the third quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after purchasing an additional 439,810 shares during the last quarter. 84.56% of the stock is currently 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.