Acco Brands (NYSE:ACCO) Share Price Passes Above 200 Day Moving Average – Here’s What Happened
by Michael Walen · The Markets DailyShares of Acco Brands Corporation (NYSE:ACCO – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.78 and traded as high as $3.89. Acco Brands shares last traded at $3.84, with a volume of 716,403 shares traded.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ACCO. Wall Street Zen lowered Acco Brands from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Acco Brands in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Acco Brands currently has an average rating of “Hold” and an average price target of $6.00.
Get Our Latest Stock Report on ACCO
Acco Brands Stock Performance
The company has a market capitalization of $342.53 million, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.46 and a beta of 1.12. The company’s 50 day moving average is $3.66 and its 200-day moving average is $3.78. The company has a current ratio of 1.68, a quick ratio of 0.96 and a debt-to-equity ratio of 1.30.
Acco Brands (NYSE:ACCO – Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The industrial products company reported $0.32 earnings per share for the quarter. Acco Brands had a net margin of 2.63% and a return on equity of 12.96%. The business had revenue of $499.40 million for the quarter. Equities analysts anticipate that Acco Brands Corporation will post 1.02 EPS for the current fiscal year.
Acco Brands Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Friday, November 21st. Acco Brands’s payout ratio is 71.43%.
Hedge Funds Weigh In On Acco Brands
Several large investors have recently modified their holdings of ACCO. Ballentine Partners LLC bought a new position in shares of Acco Brands in the second quarter worth approximately $40,000. Tower Research Capital LLC TRC raised its holdings in Acco Brands by 131.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,348 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 6,436 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Acco Brands in the 3rd quarter valued at approximately $42,000. Kapitalo Investimentos Ltda purchased a new stake in Acco Brands during the 2nd quarter valued at $55,000. Finally, Brighton Jones LLC bought a new stake in shares of Acco Brands in the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.
Acco Brands Company Profile
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.
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