Acco Brands (NYSE:ACCO) Issues Earnings Results, Meets Estimates

Acco Brands (NYSE:ACCO) issued its earnings results on Monday. The industrial products company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38, FiscalAI reports. The firm had revenue of $428.80 million for the quarter, compared to analyst estimates of $431.94 million. Acco Brands had a return on equity of 12.96% and a net margin of 2.63%.

Acco Brands Stock Down 10.7%

Acco Brands stock opened at $3.49 on Monday. Acco Brands has a twelve month low of $3.20 and a twelve month high of $4.93. The company has a quick ratio of 0.96, a current ratio of 1.68 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average of $3.99 and a 200-day moving average of $3.87. The stock has a market capitalization of $314.59 million, a PE ratio of 8.31, a price-to-earnings-growth ratio of 0.37 and a beta of 1.08.

Acco Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Friday, March 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.30 dividend on an annualized basis and a yield of 8.6%. Acco Brands’s payout ratio is presently 71.43%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACCO. Xponance LLC boosted its holdings in shares of Acco Brands by 11.8% during the fourth quarter. Xponance LLC now owns 25,335 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 2,684 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Acco Brands by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 818,489 shares of the industrial products company’s stock worth $2,930,000 after acquiring an additional 3,039 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Acco Brands by 51.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 9,618 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 3,288 shares during the last quarter. Franklin Resources Inc. raised its position in Acco Brands by 5.6% during the fourth quarter. Franklin Resources Inc. now owns 69,297 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 3,655 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in Acco Brands by 8.3% in the 2nd quarter. Quantbot Technologies LP now owns 78,218 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 6,018 shares in the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Acco Brands from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings raised shares of Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.00.

Acco Brands Company Profile

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.