ACCO Brands (NYSE:ACCO) Sets New 52-Week Low at $6.89

ACCO Brands Co. (NYSE:ACCO – Get Rating)’s stock price reached a new 52-week low on Monday . The stock traded as low as $6.89 and last traded at $6.89, with a volume of 1294 shares trading hands. The stock had previously closed at $7.05.

Several brokerages recently weighed in on ACCO. TheStreet downgraded shares of ACCO Brands from a “b” rating to a “c+” rating in a research note on Wednesday, April 27th. StockNews.com downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Friday, April 29th.

The stock has a market capitalization of $658.53 million, a PE ratio of 5.51 and a beta of 1.90. The stock’s 50-day moving average is $7.44 and its 200 day moving average is $7.99. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.85 and a current ratio of 1.68.

ACCO Brands (NYSE:ACCO – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $441.60 million during the quarter, compared to analysts’ expectations of $420.45 million. ACCO Brands had a net margin of 5.82% and a return on equity of 16.57%. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts expect that ACCO Brands Co. will post 1.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Friday, May 27th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, May 26th. ACCO Brands’s dividend payout ratio is currently 24.39%.

Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of ACCO Brands by 32.2% in the first quarter. First Trust Advisors LP now owns 315,635 shares of the industrial products company’s stock valued at $2,702,000 after purchasing an additional 76,829 shares during the period. Morgan Stanley increased its holdings in ACCO Brands by 16.0% during the 2nd quarter. Morgan Stanley now owns 469,353 shares of the industrial products company’s stock valued at $4,050,000 after acquiring an additional 64,819 shares in the last quarter. Geode Capital Management LLC increased its holdings in ACCO Brands by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,587,886 shares of the industrial products company’s stock valued at $13,639,000 after acquiring an additional 76,767 shares in the last quarter. Credit Suisse AG increased its holdings in ACCO Brands by 12.5% during the 3rd quarter. Credit Suisse AG now owns 86,436 shares of the industrial products company’s stock valued at $742,000 after acquiring an additional 9,593 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in ACCO Brands by 2.1% during the 3rd quarter. Voya Investment Management LLC now owns 57,942 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 1,211 shares in the last quarter. Institutional investors own 85.00% of the company’s stock.

ACCO Brands Company Profile (NYSE:ACCO)

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.

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