StockNews.com Downgrades ACCO Brands (NYSE:ACCO) to Hold

StockNews.com lowered shares of ACCO Brands (NYSE:ACCO - Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Separately, Barrington Research cut their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th.

ACCO Brands Price Performance

Shares of ACCO stock traded down $0.21 on Thursday, reaching $4.36. 2,128,629 shares of the company were exchanged, compared to its average volume of 622,401. ACCO Brands has a 1 year low of $4.30 and a 1 year high of $6.44. The business has a 50-day moving average price of $4.96 and a 200 day moving average price of $5.29. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The company has a market cap of $404.50 million, a price-to-earnings ratio of -4.11, a P/E/G ratio of 0.37 and a beta of 1.74.

ACCO Brands (NYSE:ACCO - Get Free Report) last released its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The business had revenue of $448.10 million for the quarter, compared to analysts' expectations of $455.06 million. Equities research analysts forecast that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

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ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Friday, March 14th. ACCO Brands's payout ratio is -28.30%.

Hedge Funds Weigh In On ACCO Brands

Several hedge funds have recently bought and sold shares of ACCO. DMC Group LLC boosted its holdings in ACCO Brands by 9.5% in the fourth quarter. DMC Group LLC now owns 28,783 shares of the industrial products company's stock valued at $151,000 after purchasing an additional 2,496 shares during the period. Somerset Trust Co increased its position in shares of ACCO Brands by 22.1% in the 4th quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company's stock valued at $79,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC raised its holdings in shares of ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 3,260 shares in the last quarter. Nebula Research & Development LLC lifted its position in shares of ACCO Brands by 8.6% during the 4th quarter. Nebula Research & Development LLC now owns 59,572 shares of the industrial products company's stock worth $313,000 after purchasing an additional 4,732 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of ACCO Brands by 8.8% during the third quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company's stock worth $322,000 after purchasing an additional 4,781 shares in the last quarter. Institutional investors and hedge funds 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.