ACCO Brands Co. (NYSE:ACCO) VP Neal V. Fenwick bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average cost of $8.06 per share, with a total value of $80,600.00. Following the completion of the transaction, the vice president now owns 520,225 shares in the company, valued at $4,193,013.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
ACCO stock opened at $8.95 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.63 and a debt-to-equity ratio of 1.28. The firm has a market cap of $829.11 million, a PE ratio of 7.52, a PEG ratio of 0.69 and a beta of 1.65. ACCO Brands Co. has a fifty-two week low of $7.39 and a fifty-two week high of $14.63.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $507.30 million for the quarter, compared to the consensus estimate of $533.26 million. ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, equities analysts forecast that ACCO Brands Co. will post 1.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.68%. ACCO Brands’s payout ratio is 20.17%.
Several hedge funds have recently bought and sold shares of ACCO. MetLife Investment Advisors LLC boosted its stake in ACCO Brands by 11.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 48,975 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 5,210 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in ACCO Brands by 27.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 5,380 shares during the period. Meeder Asset Management Inc. boosted its stake in ACCO Brands by 710.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 9,687 shares during the period. Sun Life Financial INC bought a new position in ACCO Brands in the 2nd quarter worth about $140,000. Finally, First Trust Advisors LP boosted its stake in ACCO Brands by 6.1% in the 2nd quarter. First Trust Advisors LP now owns 198,056 shares of the industrial products company’s stock worth $2,743,000 after purchasing an additional 11,454 shares during the period. Institutional investors own 91.92% of the company’s stock.
Several research firms have recently weighed in on ACCO. Zacks Investment Research downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. ValuEngine downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Finally, Noble Financial reiterated a “buy” rating and set a $15.00 price target on shares of ACCO Brands in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. ACCO Brands currently has a consensus rating of “Hold” and a consensus target price of $16.00.
ACCO Brands Company Profile
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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