Acco Brands (NYSE:ACCO) Sees Strong Trading Volume - What's Next?

Key Points

• Acco Brands shares traded actively, with volume up 29% above average and the stock rising to $5.825 from a $5.50 close.
• Analyst sentiment remained mixed but improved, with one firm upgrading the stock to “strong buy”; the overall rating was “Hold” with an average price target of $6.00.
• The company beat quarterly EPS expectations, reporting $0.28 versus $0.19 expected, and announced a $0.075 quarterly dividend, representing a 5.2% annualized yield.

Acco Brands Corporation (NYSE:ACCO - Get Free Report) saw strong trading volume on Monday. 1,129,449 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 873,513 shares. The stock last traded at $5.8250 and had previously closed at $5.50.

Wall Street Analyst Weigh In

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

Acco Brands Price Performance

The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average of $4.38 and a 200-day moving average of $3.96. The stock has a market capitalization of $531.23 million, a P/E ratio of 8.18, a PEG ratio of 0.92 and a beta of 1.20.

Acco Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Acco Brands had a net margin of 4.23% and a return on equity of 13.54%. The business had revenue of $380.30 million during the quarter, compared to the consensus estimate of $383.70 million. Sell-side analysts predict that Acco Brands Corporation will post 1.00 EPS for the current year.

Acco Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be paid a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.30 annualized dividend and a yield of 5.2%. Acco Brands's dividend payout ratio (DPR) is currently 42.86%.

Hedge Funds Weigh In On Acco Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Acco Brands by 6.7% during the second quarter. NewEdge Advisors LLC now owns 37,606 shares of the industrial products company's stock worth $156,000 after buying an additional 2,375 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Acco Brands by 71.4% in the second quarter. Sequoia Financial Advisors LLC now owns 21,311 shares of the industrial products company's stock valued at $89,000 after buying an additional 8,877 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Acco Brands during the 2nd quarter valued at $37,000. Empowered Funds LLC boosted its stake in shares of Acco Brands by 2.1% during the 1st quarter. Empowered Funds LLC now owns 523,254 shares of the industrial products company's stock worth $1,570,000 after acquiring an additional 10,696 shares in the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Acco Brands during the 3rd quarter worth $52,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.

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