Acco Brands (NYSE:ACCO) Sets New 1-Year High on Strong Earnings

Acco Brands Corporation (NYSE:ACCO)’s stock price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $5.46 and last traded at $5.4750, with a volume of 4,503,586 shares. The stock had previously closed at $4.36.

The industrial products company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. Acco Brands had a return on equity of 12.57% and a net margin of 3.74%. The firm had revenue of $380.30 million during the quarter, compared to analyst estimates of $383.70 million.

Acco Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, November 20th. Acco Brands’s dividend payout ratio is presently 48.39%.

Wall Street Analyst Weigh In

ACCO has been the topic of several analyst reports. Weiss Ratings raised shares of Acco Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Wall Street Zen downgraded shares of Acco Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Barrington Research set a $6.00 price objective on shares of Acco Brands in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Acco Brands presently has an average rating of “Hold” and a consensus target price of $6.00.

Institutional Trading of Acco Brands

A number of institutional investors and hedge funds have recently bought and sold shares of ACCO. Blueprint Investment Partners LLC purchased a new stake in Acco Brands in the third quarter valued at approximately $416,000. Blueprint Financial Advisors LLC acquired a new position in Acco Brands during the third quarter worth $416,000. Signaturefd LLC raised its position in Acco Brands by 127.0% during the third quarter. Signaturefd LLC now owns 24,092 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 13,478 shares during the last quarter. Simplicity Wealth LLC acquired a new position in shares of Acco Brands in the third quarter worth $336,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Acco Brands during the third quarter worth about $52,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Acco Brands Price Performance

The stock has a market capitalization of $505.85 million, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.20. The company has a 50 day moving average of $4.36 and a 200 day moving average of $3.95. The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 1.30.

About Acco Brands

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.