Acco Brands (NYSE:ACCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acco Brands (NYSE:ACCO) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts have also weighed in on the stock. Barrington Research set a $6.00 target price on shares of Acco Brands in a research report on Wednesday, August 5th. Weiss Ratings raised Acco Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Acco Brands presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Acco Brands Stock Performance

NYSE:ACCO opened at $5.49 on Friday. Acco Brands has a twelve month low of $2.81 and a twelve month high of $5.85. The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 1.30. The stock’s 50-day simple moving average is $4.41 and its 200 day simple moving average is $3.97. The firm has a market capitalization of $506.97 million, a PE ratio of 7.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.20.

Acco Brands (NYSE:ACCO) last issued its earnings results on Thursday, October 29th. The industrial products company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. The firm had revenue of $380.30 million during the quarter, compared to the consensus estimate of $383.70 million. Acco Brands had a return on equity of 12.57% and a net margin of 3.74%. On average, analysts anticipate that Acco Brands will post 1.00 EPS for the current fiscal year.

Acco Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be paid a $0.0750 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 5.5%. Acco Brands’s payout ratio is currently 42.86%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Acco Brands in the 2nd quarter valued at about $36,919,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Acco Brands by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,717,401 shares of the industrial products company’s stock worth $22,612,000 after acquiring an additional 67,799 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Acco Brands by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,436,286 shares of the industrial products company’s stock worth $13,308,000 after acquiring an additional 79,116 shares during the period. Bank of America Corp DE acquired a new position in shares of Acco Brands in the second quarter worth approximately $4,291,000. Finally, Bank of New York Mellon Corp bought a new stake in Acco Brands in the second quarter valued at approximately $4,079,000. 84.56% of the stock is owned by institutional investors and hedge funds.

About Acco Brands

ACCO Brands Corporation is a global manufacturer and marketer of consumer and office products. Its portfolio includes supplies and equipment used in workplaces, schools and homes, as well as products designed to support organization, productivity and personal technology.

The company’s brands include Swingline, Kensington, Mead, Five Star, GBC, Quartet and Esselte. Its products include staplers, punches, shredders, laminators, binding systems, presentation supplies, notebooks, planners, backpacks, computer accessories and other workspace and school supplies.

ACCO Brands traces its history to the American Clip Company, founded in 1903.