ACCO Brands Co. (NYSE:ACCO) SVP Ralph Paul Hargrow sold 19,977 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $9.50, for a total transaction of $189,781.50. Following the completion of the sale, the senior vice president now owns 139,441 shares in the company, valued at $1,324,689.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of ACCO traded up $0.09 during mid-day trading on Friday, reaching $9.54. The company had a trading volume of 4,767 shares, compared to its average volume of 724,882. The company’s 50 day simple moving average is $8.39 and its 200 day simple moving average is $8.48. ACCO Brands Co. has a 1-year low of $6.07 and a 1-year high of $12.63. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market capitalization of $935.98 million, a price-to-earnings ratio of 8.39, a P/E/G ratio of 1.15 and a beta of 1.89.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. ACCO Brands had a net margin of 5.43% and a return on equity of 16.06%. The company had revenue of $518.70 million for the quarter, compared to the consensus estimate of $493.89 million. During the same period last year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that ACCO Brands Co. will post 1.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, August 23rd will be given 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 2.52%. ACCO Brands’s dividend payout ratio is presently 21.05%.
A number of large investors have recently bought and sold shares of ACCO. Boston Partners boosted its position in ACCO Brands by 433.8% during the 1st quarter. Boston Partners now owns 15,997,032 shares of the industrial products company’s stock worth $663,831,000 after buying an additional 13,000,164 shares during the period. Invesco Ltd. boosted its position in ACCO Brands by 784.3% during the 2nd quarter. Invesco Ltd. now owns 3,592,375 shares of the industrial products company’s stock worth $28,272,000 after buying an additional 3,186,129 shares during the period. Norges Bank acquired a new stake in ACCO Brands during the 4th quarter worth approximately $13,137,000. Renaissance Technologies LLC boosted its position in ACCO Brands by 708.4% during the 2nd quarter. Renaissance Technologies LLC now owns 599,847 shares of the industrial products company’s stock worth $4,721,000 after buying an additional 525,647 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in ACCO Brands during the 2nd quarter worth approximately $3,925,000. Institutional investors and hedge funds own 93.50% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Noble Financial restated a “buy” rating and issued a $14.00 price target on shares of ACCO Brands in a research note on Thursday, August 8th. ValuEngine upgraded shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Friday, August 2nd. Finally, Barrington Research restated a “buy” rating and issued a $11.00 price target on shares of ACCO Brands in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. ACCO Brands has a consensus rating of “Buy” and an average price target of $12.00.
ACCO Brands Company Profile
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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