ACCO Brands Co. (NYSE:ACCO – Get Rating) declared a quarterly dividend on Monday, April 25th, Zacks reports. Shareholders of record on Friday, May 27th will be given a dividend of 0.075 per share by the industrial products company on Wednesday, June 22nd. This represents a $0.30 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Thursday, May 26th.
ACCO Brands has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 1 years. ACCO Brands has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect ACCO Brands to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 17.1%.
NYSE:ACCO opened at $7.13 on Tuesday. ACCO Brands has a one year low of $6.96 and a one year high of $9.76. The company has a market cap of $691.51 million, a P/E ratio of 5.80 and a beta of 1.90. The firm’s fifty day moving average price is $7.71 and its two-hundred day moving average price is $8.15. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.68 and a quick ratio of 0.85.
ACCO Brands (NYSE:ACCO – Get Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. ACCO Brands had a net margin of 5.82% and a return on equity of 16.57%. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that ACCO Brands will post 1.58 earnings per share for the current year.
ACCO has been the subject of a number of recent research reports. TheStreet cut shares of ACCO Brands from a “b” rating to a “c+” rating in a research report on Wednesday, April 27th. StockNews.com cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Zacks Investment Research raised shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Monday, May 16th.
In other news, COO Thomas W. Tedford sold 92,838 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total value of $793,764.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neal V. Fenwick sold 66,313 shares of the stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $570,291.80. The disclosure for this sale can be found here. Insiders have sold 208,886 shares of company stock valued at $1,791,778 in the last ninety days. 6.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of ACCO Brands by 0.9% in the first quarter. BlackRock Inc. now owns 10,391,148 shares of the industrial products company’s stock valued at $83,131,000 after buying an additional 92,697 shares during the period. Invesco Ltd. increased its stake in shares of ACCO Brands by 0.6% in the first quarter. Invesco Ltd. now owns 2,444,408 shares of the industrial products company’s stock valued at $19,555,000 after buying an additional 14,534 shares during the period. State Street Corp increased its stake in shares of ACCO Brands by 0.7% in the first quarter. State Street Corp now owns 2,270,097 shares of the industrial products company’s stock valued at $18,161,000 after buying an additional 15,706 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ACCO Brands by 17.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,701,049 shares of the industrial products company’s stock valued at $13,609,000 after buying an additional 247,609 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of ACCO Brands by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,595,978 shares of the industrial products company’s stock valued at $13,182,000 after buying an additional 8,092 shares during the period. 85.00% of the stock is owned by hedge funds and other institutional investors.
About ACCO Brands (Get Rating)
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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