Acco Brands (NYSE:ACCO) Sees Unusually-High Trading Volume – Time to Buy?

Acco Brands Corporation (NYSE:ACCO) saw unusually-strong trading volume on Monday. 1,129,449 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 873,513 shares. The stock last traded at $5.8250 and had previously closed at $5.50.

Wall Street Analysts Forecast Growth

ACCO has been the subject of a number of analyst reports. Barrington Research set a $6.00 price objective on shares of Acco Brands in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Acco Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Finally, Wall Street Zen upgraded shares of Acco Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Acco Brands Stock Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 1.97 and a quick ratio of 1.22. The company has a market cap of $531.23 million, a P/E ratio of 8.18, a PEG ratio of 0.92 and a beta of 1.20. The stock’s 50-day moving average price is $4.38 and its 200-day moving average price is $3.96.

Acco Brands (NYSE:ACCO) last announced 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 company had revenue of $380.30 million for the quarter, compared to analysts’ expectations of $383.70 million. Acco Brands had a net margin of 4.23% and a return on equity of 13.54%. Equities analysts anticipate that Acco Brands Corporation will post 1.00 EPS for the current year.

Acco Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.0750 per share. The ex-dividend date is Friday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 5.2%. Acco Brands’s dividend payout ratio is 42.86%.

Institutional Investors Weigh In On Acco Brands

A number of institutional investors have recently made changes to their positions in ACCO. BlackRock Inc. purchased a new stake in shares of Acco Brands in the 2nd quarter valued at $36,919,000. Bank of America Corp DE purchased a new position in Acco Brands during the 2nd quarter valued at about $4,291,000. Bank of New York Mellon Corp acquired a new position in Acco Brands during the second quarter worth about $4,079,000. Empowered Funds LLC purchased a new stake in shares of Acco Brands in the second quarter valued at about $2,290,000. Finally, Squarepoint Ops LLC purchased a new stake in Acco Brands in the 2nd quarter valued at approximately $1,177,000. Institutional investors own 84.56% of the company’s stock.

Acco Brands Company Profile

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.