ACCO Brands Co. (NYSE:ACCO) – Barrington Research lowered their FY2018 EPS estimates for shares of ACCO Brands in a note issued to investors on Monday, November 5th. Barrington Research analyst K. Steinke now expects that the industrial products company will post earnings of $1.16 per share for the year, down from their prior forecast of $1.33. Barrington Research has a “Buy” rating and a $13.00 price target on the stock. Barrington Research also issued estimates for ACCO Brands’ FY2019 earnings at $1.35 EPS.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. The company had revenue of $507.30 million during the quarter, compared to the consensus estimate of $533.26 million. During the same period in the prior year, the company posted $0.35 EPS. ACCO Brands’s quarterly revenue was down 4.7% on a year-over-year basis.
Other equities analysts also recently issued reports about the stock. Noble Financial reaffirmed a “buy” rating and issued a $15.00 price target on shares of ACCO Brands in a research note on Monday, August 6th. Zacks Investment Research raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Finally, ValuEngine raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.25.
NYSE ACCO opened at $8.60 on Wednesday. ACCO Brands has a 1-year low of $7.39 and a 1-year high of $14.63. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.63. The firm has a market capitalization of $919.52 million, a PE ratio of 7.23, a P/E/G ratio of 0.76 and a beta of 1.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 30th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, November 29th. ACCO Brands’s dividend payout ratio is presently 20.17%.
In other news, Chairman Boris Elisman purchased 6,547 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of $7.72 per share, for a total transaction of $50,542.84. Following the completion of the acquisition, the chairman now directly owns 798,917 shares of the company’s stock, valued at $6,167,639.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Pamela R. Schneider purchased 3,100 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average price of $8.10 per share, with a total value of $25,110.00. Following the completion of the acquisition, the senior vice president now directly owns 81,788 shares of the company’s stock, valued at $662,482.80. The disclosure for this purchase can be found here. Insiders purchased 19,647 shares of company stock valued at $156,253 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ACCO. Dalton Greiner Hartman Maher & Co. bought a new stake in ACCO Brands during the second quarter valued at about $3,017,000. Hartford Investment Management Co. bought a new stake in ACCO Brands during the second quarter valued at about $183,000. Cornerstone Wealth Management LLC bought a new stake in ACCO Brands during the second quarter valued at about $1,152,000. Dumont & Blake Investment Advisors LLC bought a new stake in ACCO Brands during the second quarter valued at about $705,000. Finally, First Trust Advisors LP boosted its holdings in ACCO Brands by 6.1% during the second quarter. First Trust Advisors LP now owns 198,056 shares of the industrial products company’s stock valued at $2,743,000 after acquiring an additional 11,454 shares during the period. Institutional investors own 90.82% of the company’s stock.
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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