Acco Brands (NYSE:ACCO) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Acco Brands (NYSE:ACCO) from a buy rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Acco Brands in a research report on Wednesday, October 8th. Zacks Research upgraded Acco Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Acco Brands in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Acco Brands Stock Performance

Shares of Acco Brands stock opened at $3.65 on Friday. The business has a 50-day simple moving average of $3.98 and a 200-day simple moving average of $3.82. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.15 and a current ratio of 1.85. Acco Brands has a one year low of $3.32 and a one year high of $6.43. The company has a market cap of $328.53 million, a PE ratio of 7.76, a P/E/G ratio of 0.46 and a beta of 1.41.

Acco Brands (NYSE:ACCO) last issued its earnings results on Friday, March 15th. The industrial products company reported $0.32 earnings per share for the quarter. Acco Brands had a net margin of 2.90% and a return on equity of 13.60%. The firm had revenue of $499.40 million for the quarter. On average, equities research analysts forecast that Acco Brands will post 1.02 EPS for the current fiscal year.

Acco Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $0.075 dividend. The ex-dividend date is Friday, November 21st. This represents a $0.30 dividend on an annualized basis and a yield of 8.2%. Acco Brands’s payout ratio is currently 71.43%.

Hedge Funds Weigh In On Acco Brands

A number of hedge funds have recently modified their holdings of the business. Ballentine Partners LLC purchased a new stake in Acco Brands in the 2nd quarter valued at $40,000. Tower Research Capital LLC TRC increased its stake in Acco Brands by 131.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,348 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 6,436 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Acco Brands in the second quarter valued at $55,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Acco Brands by 25.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company’s stock valued at $68,000 after buying an additional 3,276 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Acco Brands during the third quarter worth about $74,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Acco Brands Company Profile

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.