Shares of ACCO Brands Co. (NYSE:ACCO) have been given a consensus broker rating score of 2.25 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company.
Brokers have set a one year consensus price objective of $15.67 for the company and are predicting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also assigned ACCO Brands an industry rank of 6 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, February 16th. SunTrust Banks restated a “hold” rating and issued a $13.00 price target on shares of ACCO Brands in a research note on Wednesday, November 1st.
ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. ACCO Brands had a net margin of 6.76% and a return on equity of 18.31%. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $563.27 million. During the same quarter last year, the business earned $0.32 earnings per share. ACCO Brands’s revenue was up 29.5% compared to the same quarter last year. sell-side analysts anticipate that ACCO Brands will post 1.35 EPS for the current fiscal year.
The company also recently declared a Not Available dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Thursday, March 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, February 28th.
ACCO Brands declared that its board has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, VP Thomas W. Tedford sold 241,266 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $13.36, for a total value of $3,223,313.76. Following the completion of the transaction, the vice president now directly owns 190,500 shares in the company, valued at $2,545,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Boris Elisman sold 47,600 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $13.83, for a total transaction of $658,308.00. Following the completion of the transaction, the chief executive officer now owns 625,809 shares of the company’s stock, valued at $8,654,938.47. The disclosure for this sale can be found here. Insiders sold 428,880 shares of company stock valued at $5,776,206 over the last quarter. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of ACCO Brands in the fourth quarter valued at approximately $189,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of ACCO Brands in the fourth quarter valued at approximately $1,903,000. MetLife Investment Advisors LLC bought a new position in shares of ACCO Brands in the fourth quarter valued at approximately $534,000. Gotham Asset Management LLC bought a new position in shares of ACCO Brands in the fourth quarter valued at approximately $552,000. Finally, Jane Street Group LLC bought a new position in shares of ACCO Brands in the fourth quarter valued at approximately $212,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
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About ACCO Brands
ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.
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