ACCO Brands Co. (NYSE:ACCO) to Issue $0.08 Quarterly Dividend

ACCO Brands Co. (NYSE:ACCO) declared a quarterly dividend on Friday, April 25th, RTT News reports. Stockholders of record on Friday, May 23rd will be paid a dividend of 0.075 per share by the industrial products company on Wednesday, June 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date is Friday, May 23rd.

ACCO Brands has increased its dividend by an average of 3.6% per year over the last three years. ACCO Brands has a dividend payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ACCO Brands to earn $1.29 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 23.3%.

ACCO Brands Price Performance

Shares of NYSE ACCO opened at $3.79 on Wednesday. The stock has a market capitalization of $341.48 million, a P/E ratio of -3.58, a P/E/G ratio of 0.37 and a beta of 1.36. The company has a 50-day moving average price of $3.94 and a 200-day moving average price of $4.88. ACCO Brands has a 1 year low of $3.41 and a 1 year high of $6.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $317.40 million during the quarter, compared to analysts’ expectations of $318.75 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. On average, equities research analysts forecast that ACCO Brands will post 1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ACCO Brands stock. Empowered Funds LLC lifted its position in shares of ACCO Brands Co. (NYSE:ACCO) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,514 shares of the industrial products company’s stock after purchasing an additional 16,343 shares during the period. Empowered Funds LLC owned 0.51% of ACCO Brands worth $1,930,000 at the end of the most recent quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ACCO shares. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Barrington Research dropped their price target on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th.

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.