ACCO Brands (NYSE:ACCO) Cut to Hold at StockNews.com

StockNews.com cut shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, Barrington Research reduced their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th.

ACCO Brands Trading Down 4.5 %

Shares of ACCO opened at $4.36 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $4.96 and a 200-day simple moving average of $5.29. ACCO Brands has a 1-year low of $4.30 and a 1-year high of $6.44. The stock has a market cap of $404.50 million, a price-to-earnings ratio of -4.11, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74.

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

ACCO Brands Dividend Announcement

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

Institutional Investors Weigh In On ACCO Brands

Institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its position in ACCO Brands by 127.8% in the 4th quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company’s stock worth $8,045,000 after purchasing an additional 859,787 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ACCO Brands by 37.4% in the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock valued at $10,857,000 after acquiring an additional 562,985 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in ACCO Brands by 663.4% during the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company’s stock worth $2,154,000 after buying an additional 356,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ACCO Brands during the fourth quarter worth approximately $1,764,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in ACCO Brands by 135.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company’s stock worth $3,029,000 after buying an additional 331,537 shares in the last quarter. Institutional investors 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.