ACCO Brands Co. (NYSE:ACCO) CEO Sells $1,725,929.10 in Stock

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ACCO Brands Co. (NYSE:ACCO) CEO Boris Elisman sold 182,638 shares of ACCO Brands stock in a transaction on Monday, September 9th. The shares were sold at an average price of $9.45, for a total value of $1,725,929.10. Following the completion of the sale, the chief executive officer now directly owns 1,192,014 shares of the company’s stock, valued at $11,264,532.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ACCO Brands stock opened at $10.02 on Thursday. The firm has a market cap of $934.02 million, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.14 and a beta of 1.85. ACCO Brands Co. has a 52-week low of $6.07 and a 52-week high of $12.40. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $9.28 and its two-hundred day moving average is $8.55.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. ACCO Brands had a net margin of 5.43% and a return on equity of 16.06%. The business had revenue of $518.70 million during the quarter, compared to the consensus estimate of $493.89 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that ACCO Brands Co. will post 1.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.24 annualized dividend and a yield of 2.40%. ACCO Brands’s dividend payout ratio (DPR) is 21.05%.

Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd boosted its stake in shares of ACCO Brands by 131.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,289 shares of the industrial products company’s stock valued at $73,000 after buying an additional 5,276 shares during the period. Raymond James Trust N.A. acquired a new position in shares of ACCO Brands during the second quarter worth about $83,000. Man Group plc purchased a new stake in shares of ACCO Brands during the second quarter worth approximately $141,000. Oppenheimer Asset Management Inc. increased its stake in shares of ACCO Brands by 24.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,359 shares of the industrial products company’s stock worth $149,000 after buying an additional 3,451 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in ACCO Brands by 159.2% in the first quarter. BNP Paribas Arbitrage SA now owns 24,297 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 14,923 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors.

ACCO has been the topic of several research analyst reports. TheStreet raised ACCO Brands from a “c+” rating to a “b-” rating in a research note on Wednesday, August 21st. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Friday, August 2nd. Noble Financial reaffirmed a “buy” rating and issued a $14.00 target price on shares of ACCO Brands in a research report on Thursday, August 8th. Finally, ValuEngine upgraded shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.00.

About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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