ACCO Brands (NYSE:ACCO) Hits New 1-Year Low – What’s Next?

Shares of ACCO Brands Co. (NYSE:ACCO) hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $4.34 and last traded at $4.57, with a volume of 3296018 shares trading hands. The stock had previously closed at $5.52.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Barrington Research increased their price target on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Friday, November 22nd.

ACCO Brands Price Performance

The company’s fifty day moving average price is $5.25 and its two-hundred day moving average price is $5.38. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company has a market cap of $424.00 million, a price-to-earnings ratio of -4.31, a PEG ratio of 0.41 and a beta of 1.68.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. On average, equities research analysts forecast that ACCO Brands Co. will post 1.13 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 6.57%. The ex-dividend date is Friday, March 14th. ACCO Brands’s payout ratio is -28.30%.

Hedge Funds Weigh In On ACCO Brands

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in ACCO Brands by 127.8% during the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company’s stock worth $8,045,000 after purchasing an additional 859,787 shares during the last quarter. American Century Companies Inc. lifted its position in ACCO Brands by 37.4% during the 4th quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock worth $10,857,000 after buying an additional 562,985 shares in the last quarter. Capital Management Corp VA boosted its stake in shares of ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after buying an additional 439,810 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of ACCO Brands by 663.4% in the 4th quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company’s stock valued at $2,154,000 after acquiring an additional 356,500 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of ACCO Brands by 135.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company’s stock valued at $3,029,000 after acquiring an additional 331,537 shares during the last quarter. 84.56% of the stock is owned by institutional investors.

About ACCO Brands

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, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.