ACCO Brands (NYSE:ACCO) Price Target Lowered to $6.00 at Barrington Research

ACCO Brands (NYSE:ACCO) had its price target decreased by Barrington Research from $7.00 to $6.00 in a research report report published on Friday morning,Benzinga reports. Barrington Research currently has an outperform rating on the industrial products company’s stock.

Separately, Wall Street Zen upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th.

ACCO Brands Stock Performance

Shares of ACCO opened at $3.48 on Friday. ACCO Brands has a one year low of $3.41 and a one year high of $6.44. The company has a 50-day moving average of $3.89 and a two-hundred day moving average of $4.84. The stock has a market cap of $313.09 million, a price-to-earnings ratio of -3.28, a PEG ratio of 0.37 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The company had revenue of $317.40 million during the quarter, compared to analysts’ expectations of $318.75 million. On average, equities research analysts expect that ACCO Brands will post 1.02 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 23rd will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend is Friday, May 23rd. ACCO Brands’s dividend payout ratio is currently -26.55%.

Institutional Trading of ACCO Brands

Several institutional investors have recently made changes to their positions in ACCO. Capital Management Corp VA boosted its holdings in shares of ACCO Brands by 27.5% during the first quarter. Capital Management Corp VA now owns 4,552,770 shares of the industrial products company’s stock worth $19,076,000 after purchasing an additional 980,910 shares during the period. Millennium Management LLC boosted its holdings in shares of ACCO Brands by 127.8% during the fourth 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 period. American Century Companies Inc. boosted its holdings in shares of ACCO Brands by 37.4% during the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock worth $10,857,000 after purchasing an additional 562,985 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of 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 purchasing an additional 356,500 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of ACCO Brands during the fourth quarter worth approximately $1,764,000. 84.56% of the stock is currently owned by institutional investors and hedge funds.

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.