ACCO Brands (NYSE:ACCO) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of ACCO Brands (NYSE:ACCOGet Rating) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “

Separately, StockNews.com started coverage on shares of ACCO Brands in a research report on Thursday, March 31st. They set a buy rating for the company.

ACCO stock opened at $7.79 on Wednesday. The firm has a 50 day moving average of $8.23 and a 200 day moving average of $8.38. The stock has a market capitalization of $754.38 million, a PE ratio of 7.45 and a beta of 1.98. The company has a quick ratio of 0.70, a current ratio of 1.31 and a debt-to-equity ratio of 1.10. ACCO Brands has a 52 week low of $7.51 and a 52 week high of $9.77.

ACCO Brands (NYSE:ACCOGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. ACCO Brands had a net margin of 5.03% and a return on equity of 17.43%. The company had revenue of $570.30 million during the quarter, compared to analyst estimates of $560.93 million. During the same period last year, the firm posted $0.32 EPS. ACCO Brands’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, equities research analysts expect that ACCO Brands will post 1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Friday, March 18th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Thursday, March 17th. ACCO Brands’s dividend payout ratio (DPR) is 28.57%.

In related news, CEO Boris Elisman sold 7,335 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $9.00, for a total value of $66,015.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pamela R. Schneider sold 49,735 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $427,721.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,221 shares of company stock valued at $1,857,793. Insiders own 6.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in ACCO Brands by 1.5% during the 4th quarter. BlackRock Inc. now owns 10,298,451 shares of the industrial products company’s stock worth $85,065,000 after purchasing an additional 150,633 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in ACCO Brands during the 4th quarter worth $38,397,000. Royal Bank of Canada boosted its stake in ACCO Brands by 3.9% during the 3rd quarter. Royal Bank of Canada now owns 3,180,617 shares of the industrial products company’s stock worth $27,321,000 after purchasing an additional 119,980 shares during the last quarter. State Street Corp boosted its position in shares of ACCO Brands by 2.6% during the 4th quarter. State Street Corp now owns 2,254,391 shares of the industrial products company’s stock valued at $18,621,000 after acquiring an additional 56,910 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ACCO Brands by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,595,978 shares of the industrial products company’s stock valued at $13,182,000 after acquiring an additional 8,092 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

About ACCO Brands (Get Rating)

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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.

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