Acco Brands (NYSE:ACCO) Releases Quarterly Earnings Results, Hits Expectations

Acco Brands (NYSE:ACCO) posted its quarterly earnings results on Monday. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38, FiscalAI reports. Acco Brands had a return on equity of 12.96% and a net margin of 2.63%.The business had revenue of $428.80 million for the quarter, compared to analysts’ expectations of $431.94 million.

Acco Brands Trading Down 6.6%

NYSE ACCO opened at $3.65 on Monday. The company has a market capitalization of $329.01 million, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 0.37 and a beta of 1.08. The company’s 50-day simple moving average is $3.99 and its two-hundred day simple moving average is $3.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.96 and a current ratio of 1.68. Acco Brands has a one year low of $3.20 and a one year high of $4.93.

Acco Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Friday, March 20th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 20th. This represents a $0.30 annualized dividend and a yield of 8.2%. Acco Brands’s dividend payout ratio (DPR) is 71.43%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACCO. Weiss Ratings upgraded Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 9th. Wall Street Zen upgraded Acco Brands from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Institutional Trading of Acco Brands

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in Acco Brands in the 1st quarter valued at about $127,000. Empowered Funds LLC lifted its stake in Acco Brands by 3.7% in the first quarter. Empowered Funds LLC now owns 460,514 shares of the industrial products company’s stock worth $1,930,000 after acquiring an additional 16,343 shares during the last quarter. Creative Planning grew its holdings in Acco Brands by 53.3% during the 2nd quarter. Creative Planning now owns 54,421 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 18,924 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Acco Brands by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 818,489 shares of the industrial products company’s stock valued at $2,930,000 after purchasing an additional 3,039 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Acco Brands by 8.3% during the 2nd quarter. Quantbot Technologies LP now owns 78,218 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 6,018 shares during the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

About Acco Brands

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.