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. It offers its products under the AT-A-GLANCE, Barrilito, Derwent, Esselte, Five Star, Foroni, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, PowerA, Quartet, Rapid, Rexel, Swingline, Tilibra, Artline, and Spirax brand names. The company markets and sells its products through various channels, including mass retailers, e-tailers, discount, drug/grocery, and variety chains; warehouse clubs; hardware and specialty stores; independent office product dealers; office superstores; wholesalers; contract stationers; and technology specialty businesses, as well as sells products directly to commercial and consumer end-users through its e-commerce platform and direct sales organization. The company was founded in 1893 and is headquartered in Lake Zurich, Illinois.

Acco Brands Corporation

The following are today's upgrades for Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.
LOGILITY SUPPLY CHAIN SOLUTIONS INC (LGTY) is a small-cap growth stock in the Software & Programming industry. The rating according to our strategy based on Joel Greenblatt changed from 0% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Logility Supply Chain Solutions, Inc., formerly American Software, Inc., is a provider of artificial intelligence (AI)-powered supply chain management solutions. Its Logility Digital Supply Chain Platform leverages artificial intelligence, machine learning (ML) and automation to continuously sense, analyze and update activity in your digital supply chain, always ensuring peak operational performance. Its Logility Decision Intelligence Platform is a fully integrated, cloud-based solution suite that integrates planning and operations across the end-to-end supply chain. Its solutions include Scenario Planning, Product, Demand Planning, InventoryAI+, Supply, Supply Chain Design, deployment, and Supply Chain Data Management. Its Scenario Planning solutions include Integrated Business Planning, Operational Scenario Planning, Decision Command Center, Sales & Operations Planning (S&OP), Sales & Operations Execution (S&OE). It caters to various industries such as apparel, retail, and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of LOGILITY SUPPLY CHAIN SOLUTIONS INC
LGTY Guru Analysis
LGTY Fundamental Analysis
STERLING INFRASTRUCTURE INC (STRL) is a mid-cap growth stock in the Construction Services industry. The rating according to our strategy based on Joel Greenblatt changed from 70% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Sterling Infrastructure, Inc. operates through a variety of subsidiaries, specializing in E-Infrastructure, Transportation and Building Solutions in the United States. Its segments include E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment is a provider of large-scale specialty site infrastructure improvement contracting services in the Southeastern, Northeastern and Mid-Atlantic United States. It serves large, blue-chip end users in the e-commerce, data center, distribution center, warehousing, energy sectors and more. The Transportation Solutions segment is comprised of heavy highway, aviation, and rail, and relies heavily on federal and state infrastructure spending. The principal markets of this segment are Arizona, Colorado, Hawaii, Nevada, Texas, and Utah. The Building Solutions segment is comprised of its residential and commercial businesses. It focuses on concrete construction of multifamily foundations.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of STERLING INFRASTRUCTURE INC
STRL Guru Analysis
STRL Fundamental Analysis
ACCO BRANDS CORP (ACCO) is a small-cap value stock in the Office Supplies industry. The rating according to our strategy based on Joel Greenblatt changed from 70% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: ACCO Brands Corporation is a global consumer, technology and business branded products company, providing brands and innovative product solutions used in schools, homes and at work. The Company operates through two segments: ACCO Brands Americas and ACCO Brands International. The Americas includes the U.S., Canada, Brazil, Mexico and Chile, and International includes EMEA, Australia, New Zealand and Asia. Its primary products include note-taking products, computer and gaming accessories; planners; workspace machines, tools and essentials; dry erase boards and accessories; filing and organization products; writing and art products and others. Its primary brands include Five Star, PowerA, Tilibra, AT-A-GLANCE, Kensington, Quartet, GBC, Mead, Swingline, Barrilito, Foroni, Hilroy, Leitz, Rapid, Esselte, Rexel, NOBO, Franken, Derwent, Marbig, Artline and Spirax among others. The Company distributes its products through a variety of channels and sells directly through e-commerce sites.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of ACCO BRANDS CORP
ACCO Guru Analysis
ACCO Fundamental Analysis
Joel Greenblatt Portfolio
Top Joel Greenblatt Stocks
About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea Joel Greenblatt Strategy Daily Upgrade Report - 2/22/2025

Avery Dennison Corporation AVY has delivered adjusted earnings of $2.38 per share in fourth-quarter 2024, beating the Zacks Consensus Estimate of $2.37. The bottom line increased 10% year over year.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Including one-time items, the company has reported earnings per share (EPS) of $2.16 compared with the year-ago quarter’s $1.77.
Avery Dennison’s Revenues & Margins Improve Y/Y in Q4
Total revenues moved up 3.6% year over year to $2.19 billion, aided by higher volumes in both segments. However, the top line missed the Zacks Consensus Estimate of $2.20 billion.
The cost of sales in the quarter improved 4.1% year over year to $1.58 billion. The gross profit rose 2.2% year over year to $609 million.
Avery Dennison Corporation Price, Consensus and EPS Surprise
Avery Dennison Corporation price-consensus-eps-surprise-chart | Avery Dennison Corporation Quote
Marketing, general and administrative expenses were $329 million compared with $335 million in the year-ago quarter. The adjusted operating profit was around $280 million compared with the prior-year quarter’s $261 million. The adjusted operating margin was 12.8% compared with 12.4% in the prior-year quarter.
AVY’s Segments Deliver Y/Y Growth in Revenues & Profit
Revenues in the Materials Group segment increased 3.7% year over year to $1.47 billion in the reported quarter. The reported figure missed our estimate of $1.48 billion. On an organic basis, sales grew 3.7%. We predicted organic sales to rise 4.2%.
The segment’s adjusted operating profit increased 9.6% year over year to $217.5 million. Our estimate was $231.5 million.
Revenues in the Solutions Group moved up 3.2% year over year to $714 million. We estimated revenues of $735 million for this segment. On an organic basis, sales improved 2.6% year over year. Our model predicted a rise of 6.2%.
The segment’s adjusted operating income grew 0.9% year over year to $81 million. Our estimate was $74 million.
Avery Dennison’s Cash & Debt Position
The company returned $525 million in cash to shareholders through share repurchases and dividend payments in 2024. AVY repurchased 1.2 million shares throughout the year.
Avery Dennison ended 2024 with cash and cash equivalents of $329 million compared with $215 million at the end of the prior year.
The company’s long-term debt was $2.56 billion at the end of 2024, down from $2.62 billion at the end of 2023. Its net debt to adjusted EBITDA ratio was 2.0X.
AVY realized approximately $63 million in pre-tax savings from restructuring (net of transition costs) in 2024. The company also incurred pre-tax restructuring charges of around $42 million.
AVY’s 2024 Performance
Adjusted EPS increased 19% year over year to $9.43 in 2024 and topped the Zacks Consensus Estimate of $9.41. Including one-time items, EPS was $8.73 in 2024, up 41% from the $6.20 reported in 2023.
Total revenues improved 4.7% year over year to $8.76 billion. The top line figure missed the Zacks Consensus Estimate of $8.77 billion.
Avery Dennison’s 2025 Guidance
The company expects adjusted EPS between $9.80 and $10.20 for 2025.
AVY Stock’s Price Performance
Shares of Avery Dennison have lost 1.7% in the past year compared with the industry’s fall of 6.3%.
Image Source: Zacks Investment Research
Performance of Another Office Supplies Stock
Xerox Holdings Corporation XRX came out with fourth-quarter 2024 earnings of 36 cents per share, missing the Zacks Consensus Estimate of 52 cents. The company reported earnings of 43 cents a year ago.
XRX posted revenues of $1.61 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate of $1.59 billion. It posted revenues of $1.78 billion in the year-ago quarter.
Office Supplies Stock Awaiting Results
ACCO Brands Corporation ACCO is expected to release its fourth-quarter 2024 results soon. The Zacks Consensus Estimate for ACCO’s earnings is pegged at 41 cents per share, indicating year-over-year growth of 5.1%.
The consensus estimate for the company’s top line is pegged at $455.1 million, implying a decrease of 6.9% from the prior-year reported figure. ACCO has a trailing four-quarter average surprise of 21.9%.
Avery Dennison’s Zacks Rank & Stock to Consider
Avery Dennison currently carries a Zacks Rank #4 (Sell).
A better-ranked stock from the Industrial Products sector is Graham Corporation GHM. GHM sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Graham delivered an average trailing four-quarter earnings surprise of 101.9%. The Zacks Consensus Estimate for GHM’s 2025 earnings is pinned at $1.03 per share, which indicates a year-over-year surge of 145.2%. The company’s shares have skyrocketed 128.3% in a year.
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Xerox Holdings Corporation (XRX) : Free Stock Analysis Report
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Graham Corporation (GHM) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Avery Dennison Q4 Earnings Beat Estimates, Rise Y/Y on Higher Volumes

Avery Dennison Corporation AVY has delivered third-quarter 2024 adjusted earnings of $2.33 per share , which beating the Zacks Consensus Estimate of $2.32. The bottom line increased 9% year over year, driven by higher volume and productivity gains.
Including one-time items, the company reported earnings per share (EPS) of $2.25 compared with the year-ago quarter’s $1.71.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Avery Dennison’s Revenues & Margins Improve Y/Y in Q3
Total revenues grew 4.1% year over year to $2.18 billion and missed the Zacks Consensus Estimate of $2.2 billion.
Avery Dennison Corporation Price, Consensus and EPS Surprise
Avery Dennison Corporation price-consensus-eps-surprise-chart | Avery Dennison Corporation Quote
The cost of sales grew 2.9% year over year to $1.56 billion. The gross profit improved 7% year over year to $627 million.
Marketing, general and administrative expenses were $347 million compared with the $325 million in the year-ago quarter. The adjusted operating profit was around $280 million compared with the prior-year quarter’s $261 million. The adjusted operating margin was 12.8% compared with the year-ago quarter’s 12.4%.
AVY’s Segments Deliver Y/Y Growth in Revenues & Profit
Revenues in the Materials Group segment increased 3% year over year to around $1.5 billion . The reported figure came in line with our estimate. On an organic basis, sales rose 3.6%. We predicted organic sales to rise 3.7%.
The segment’s adjusted operating profit grew 3% year over year to $222 million. Our estimate was $230 million.
Revenues in the Solutions Group were up 7% year over year to $686 million. We estimated revenues of $680 million for this segment. On an organic basis, sales grew 6%. Our model predicted 5.8% growth.
The segment’s adjusted operating income increased 26% year over year to $77 million. Our estimate was $71 million.
Avery Dennison’s Cash & Debt Position
The company returned $315 million in cash to shareholders through share repurchases and dividend payments in the first nine-month period of 2024. AVY repurchased 0.5 million shares throughout the period.
Avery Dennison ended the quarter with cash and cash equivalents of $213 million compared with $210 million at the end of the year-ago quarter. The company’s long-term debt was $2.04 billion at the end of the quarter, down from $2.6 billion at the end of the third quarter of 2023.
AVY Revised Guidance for 2024
The company expects reported sales growth to be in the range of 5.0-5.5% (previously 4.5-5.5%). This includes a 0.5% contribution from acquisitions. Organic sales growth is envisioned in the band of 4.5-5.0%. AVY had previously provided a range of 4.0-5.0%.
Avery Dennison now projects full-year adjusted EPS to be in the range of $9.35-$9.50 compared with the prior stated 9.30-$9.50. The mid point of the guidance projects 19% growth from adjusted EPS of $7.90 in 2023.
Avery Dennison Stock’s Price Performance
AVY’s shares have gained 25% in the past year compared with the industry’s 17.1% growth.
Image Source: Zacks Investment Research
Office Supplies Stocks Awaiting Results
Xerox Holdings Corporation XRX is scheduled to release its third-quarter results on Oct. 29. The Zacks Consensus Estimate for XRX’s earnings is pegged at 53 cents per share, indicating year-over-year growth of 15.2%.
The consensus estimate for the company’s top line is pegged at $1.60 billion, indicating a decline of 3.4% from the prior-year figure. XRX has a trailing four-quarter average surprise of a negative 25.4%.
ACCO Brands Corporation ACCO is expected to release its third-quarter 2024 results on Oct. 31. The Zacks Consensus Estimate for ACCO Brands’ earnings is pegged at 23 cents per share, indicating a year-over-year fall of 4%.
The consensus estimate for the company’s top line is pegged at $418 million, implying a decrease of 6.7% from the prior-year figure. ACCO has a trailing four-quarter average surprise of 22.97%.
AVY’s Zacks Rank & a Stock to Consider
Avery Dennison currently carries a Zacks Rank #3 (Hold).
A better-ranked stock from the Industrial Products sector is Parker-Hannifin Corporation PH. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Parker-Hannifin’s fiscal 2025 earnings is pegged at $26.68 per share. The company has a trailing four-quarter average earnings surprise of 11.2%. PH’s shares have gained 76.4% in a year.
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Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
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Acco Brands Corporation (ACCO) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Avery Dennison Beats Q3 Earnings Estimates, Raises FY24 View

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares MSCI KLD 400 Social ETF (Symbol: DSI), we found that the implied analyst target price for the ETF based upon its underlying holdings is $119.57 per unit.
With DSI trading at a recent price near $109.19 per unit, that means that analysts see 9.51% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of DSI's underlying holdings with notable upside to their analyst target prices are Loews Corp. (Symbol: L), Acco Brands Corp (Symbol: ACCO), and Rivian Automotive Inc (Symbol: RIVN). Although L has traded at a recent price of $78.25/share, the average analyst target is 133.87% higher at $183.00/share. Similarly, ACCO has 102.78% upside from the recent share price of $5.26 if the average analyst target price of $10.67/share is reached, and analysts on average are expecting RIVN to reach a target price of $17.70/share, which is 69.82% above the recent price of $10.42. Below is a twelve month price history chart comparing the stock performance of L, ACCO, and RIVN:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
iShares MSCI KLD 400 Social ETF
DSI
$109.19
$119.57
9.51%
Loews Corp.
L
$78.25
$183.00
133.87%
Acco Brands Corp
ACCO
$5.26
$10.67
102.78%
Rivian Automotive Inc
RIVN
$10.42
$17.70
69.82%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
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Manufacturing Dividend Stock List
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Analysts Forecast 10% Upside For DSI

Avery Dennison Corporation AVY has delivered adjusted earnings of $2.42 per share in second-quarter 2024, beating the Zacks Consensus Estimate of $2.25. The bottom line marked 26% year-over-year growth.
Including one-time items, the company has reported earnings per share (EPS) of $2.18 compared with the year-ago quarter’s $1.24.
Total revenues grew 6.9% year over year to $2.24 billion, beating the Zacks Consensus Estimate of $2.18 billion.
Cost of sales in the quarter grew 2.3% year over year to $1.57 billion. The gross profit improved 19.8% year over year to $663 million.
Marketing, general and administrative expenses were $374 million compared with the $320 million incurred in the year-ago quarter. The adjusted operating profit was around $289 million compared with the prior-year quarter’s $234 million. The adjusted operating margin was 12.9% in the quarter compared with the year-ago quarter’s 11.2%.
Avery Dennison Corporation Price, Consensus and EPS Surprise
Avery Dennison Corporation price-consensus-eps-surprise-chart | Avery Dennison Corporation Quote
Segmental Highlights
Revenues in the Materials Group segment increased 4.8% year over year to $1.55 billion in the second quarter. The reported figure exceeded our estimate of $1.52 billion. On an organic basis, sales rose 5.6%. We predicted organic sales to fall 2.9%. The segment’s adjusted operating profit grew 22.3% year over year to $245 million.
Revenues in the Solutions Group were up 12% year over year to $689 million. We estimated revenues of $659 million for this segment. On an organic basis, sales grew 10.8%. Our model predicted a fall of 6.3%. The segment’s adjusted operating income increased 26.9% year over year to $69.8 million.
Financial Updates
The company returned $177 million in cash to shareholders through share repurchases and dividend payments in the first half of 2024. AVY repurchased 0.2 million shares throughout the first half.
Avery Dennison ended the quarter with cash and cash equivalents of $209 million compared with $217 million at the end of 2023. The company’s long-term debt was $2.05 billion at the end of the quarter under review, down from $2.91 billion at the end of the second quarter of 2023.
Guidance
Backed by a better-than-expected performance in the second quarter, the company updated its yearly outlook. Avery Dennison projects full-year adjusted EPS of $9.30-$9.50 compared with the prior stated $9.00-$9.50.
Price Performance
AVY shares have gained 28.3% in the past year compared with the industry’s growth of 27.7%.
Image Source: Zacks Investment Research
Office Supplies Stocks Awaiting Results
Xerox Holdings Corporation XRX is scheduled to release its second-quarter 2024 results on Jul 25. The Zacks Consensus Estimate for XRX’s second-quarter 2024 earnings is pegged at 46 cents per share, suggesting year-over-year growth of 4.5%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1.63 billion, indicating a decline of 7.1% from the prior-year figure. XRX has a trailing four-quarter average surprise of a negative 7.82%.
ACCO Brands Corporation ACCO is expected to release its second-quarter 2024 results soon. The Zacks Consensus Estimate for ACCO Brands’ second-quarter 2024 earnings is pegged at 31 cents per share, suggesting a year-over-year fall of 18.4%.
The Zacks Consensus Estimate for the company’s top line is pegged at $453 million, implying a decrease of 8.3% from the prior-year reported figure. ACCO has a trailing four-quarter average surprise of 25.9%.
Another Stock to Consider
Avery Dennison currently carries a Zacks Rank #2 (Buy).
Another top-ranked stock from the Industrial Products sector is Intellicheck, Inc. IDN, which has a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Intellicheck’s 2024 earnings is pegged at 2 cents per share. The consensus estimate for 2024 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 28.9%. IDN shares have gained 17.4% in a year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Avery Dennison (AVY) Q2 Earnings Beat, Revenues Rise Y/Y

Shareholders of Acco Brands Corp (Symbol: ACCO) looking to boost their income beyond the stock's 6.5% annualized dividend yield can sell the August covered call at the $5 strike and collect the premium based on the 15 cents bid, which annualizes to an additional 26.6% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 33.1% annualized rate in the scenario where the stock is not called away. Any upside above $5 would be lost if the stock rises there and is called away, but ACCO shares would have to advance 7.1% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 10.3% return from this trading level, in addition to any dividends collected before the stock was called.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Acco Brands Corp, looking at the dividend history chart for ACCO below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 6.5% annualized dividend yield.
Below is a chart showing ACCO's trailing twelve month trading history, with the $5 strike highlighted in red:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the August covered call at the $5 strike gives good reward for the risk of having given away the upside beyond $5. (Do most options expire worthless? This and six other common options myths debunked). We calculate the trailing twelve month volatility for Acco Brands Corp (considering the last 251 trading day closing values as well as today's price of $4.62) to be 34%. For other call options contract ideas at the various different available expirations, visit the ACCO Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Wednesday, the put volume among S&P 500 components was 1.03M contracts, with call volume at 2.29M, for a put:call ratio of 0.45 so far for the day. Compared to the long-term median put:call ratio of .65, that represents very high call volume relative to puts; in other words, buyers are preferring calls in options trading so far today. Find out which 15 call and put options traders are talking about today.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

YieldBoost ACCO From 6.5% To 33.1% Using Options

Packaging Corporation of America PKG has been gaining from strong growth in e-commerce activities that continue to support packaging demand. Stable demand for food, beverages, medication and other consumer products bodes well for the Packaging segment.
However, higher labor costs and planned annual outages mills will dent its results in 2024. The fall in reported benchmark pricing that took place late in 2023, with export prices remaining relatively unchanged, will impact margins.
Demand in E-Commerce to Aid Growth: Packaging Corp stands to gain from strong growth in e-commerce activities that continue to support packaging demand.
The Packaging segment accounts for around 91% of the company’s revenues. Packaging products are essential for distributing food, beverage and pharmaceutical products. The Packaging segment will continue to reflect stable packaging demand for meat, fruit and vegetables, processed food, beverages, medicine, and other consumer products.
Solid Segmental Performance: In the first quarter of 2024, the sales volume of containerboard increased 40,000 tons from the first quarter of 2023. The company's order backlog and containerboard remained strong in the quarter.
In the Packaging segment, it anticipates increased total corrugated product shipments in 2024 due to ongoing robust demand. In the Paper segment, the company expects an improved mix to move prices slightly higher. These tailwinds are expected to boost its performance in the upcoming quarters.
Acquisitions to Boost Growth: In December 2021, the company acquired all assets of Advanced Packaging Corporation in a cash-free transaction. The company acquired a full-line 500,000-square-foot corrugated products facility located in Grand Rapids, MI. The deal supported Packaging Corp’s focus on enhancing its containerboard portfolio through organic box volume growth and strategic box plant acquisitions.
Following the buyout, the company’s containerboard integration increased by almost 80,000 tons. This enhanced its mill capacity and box plant operations.
Low Containerboard Volume & High Costs to Act as Woes
Despite the reopening of the No. 2 machine at the Wallula Mill, the company expects containerboard volume to be lower in 2024 than the prior year due to downtime caused by the conversion of the No. 3 machine at the company's Jackson Mill and a scheduled maintenance outage at its Counce, TN-based mill.
Even though pricing and mix are anticipated to be slightly higher following the implementation of the company's stated January price hikes, this will be largely offset by a fall in reported benchmark pricing that took place late in 2023, with export prices remaining relatively unchanged.
Labor costs and certain indirect costs are expected to remain elevated. Operating and converting costs are anticipated to increase.
Due to these factors, Packaging Corp projects a second-quarter 2024 EPS of $2.07, indicating a year-over-year dip of 10%
Price Performance
PKG shares have gained 49.1% in the past year compared with the industry’s growth of 19.7%.
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Zacks Rank & Stocks to Consider
Packaging Corp currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Intellicheck, Inc. (IDN ), Applied Industrial Technologies AIT and ACCO Brands Corporation ACCO. IDN currently sports a Zacks Rank #1 (Strong Buy), and AIT and ACCO carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Intellicheck’s 2024 earnings is pegged at 2 cents per share. The consensus estimate for 2024 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 28.9%. IDN shares have gained 13.7% in the past three months.
Applied Industrial has an average trailing four-quarter earnings surprise of 8.2%. The Zacks Consensus Estimate for AIT’s 2024 earnings is pinned at $9.62 per share, which indicates year-over-year growth of 9.9%. Estimates have moved north by 2% in the past 60 days. The company’s shares have gained 60.1% in the past three months.
The Zacks Consensus Estimate for ACCO Brands’ 2024 earnings is pegged at $1.07 per share. The consensus estimate for 2024 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 25.9%. ACCO shares have gained 1.5% in the past three months.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Packaging Corp (PKG) Gains on E-Commerce Demand Amid High Costs

Sonoco Products Company SON has been gaining from the consumer packaging business, its strong productivity and cost-control despite volume declines due to lower consumer spending. Moreover, recent acquisitions and further investments will boost growth in the upcoming quarters.
Shares of the company have gained 4.7% in a year compared with the industry’s growth of 15.5%.
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Strategic Actions Aid Margins: Sonoco’s consumer packaging businesses have been benefiting from the Metal Packaging acquisition and pricing efforts. The company is implementing aggressive price actions across its businesses to counter higher raw material and non-material inflation. Continued strong recovery in price and costs across most of its businesses, benefits from the Ball Metalpack (now Sonoco Metal Packaging) acquisition, and solid demand are likely to contribute to the 2024 results.
Sonoco’s focus on optimizing businesses through productivity improvement, standardization and cost control will also aid its results in the near term. It is implementing several synergy opportunities, including optimizing raw material purchases, leveraging indirect expenses and coordinating supply-chain logistics. These factors will help meet Sonoco’s cost-saving target.
Focus on Growth & Innovation Boosts Results: Sonoco is focused on increasing investment in its core consumer and industrial businesses, and achieving an annual EBITDA of $1 billion by 2026.
The company continues to emphasize capital allocation and expects to be able to increase dividends while maintaining an investment-grade balance sheet. It intends to increase returns on invested capital in the coming years through organic investments in core accretive acquisitions and portfolio rationalization.
Moreover, Sonoco is focused on growing in the niche food markets and launching products with new customers. Investment in these markets will add pouch-making capacity for the company and help it expand its presence in the pouch market.
Strategic Acquisitions Drive Performance: On Jan 22, 2022, Sonoco completed the acquisition of Ball Metalpack for a cash payment of $1.35 billion. Ball Metalpack is a foremost producer of sustainable metal packaging for food and household products, and the largest manufacturer of aerosol products in North America.
The deal supported Sonoco’s focus on investing in the core business that strengthens its global Paper Cans and Closures business while bolstering its sustainable packaging portfolio with metal packaging. Notably, metal packaging is preferable by U.S. customers due to its inherent attributes of recyclability and sustainability.
Sonoco expects to realize tax benefits of $180 million from the deal. It expects to generate annual synergies of at least $20 million from procurement and SG&A savings within three years of the transaction.
Also during 2022, Sonoco acquired Denmark-based Skjern, a privately owned manufacturer of paper, for $88 million in cash. The acquisition expanded SON’s production capacity. It helped Sonoco capitalize on the growing market for sustainable paper and packaging products in Europe.
Near-Term Concerns
The company has been facing declining volumes due to lower consumer purchases. This is likely to keep denting margins. Moreover, Sonoco will continue to bear the brunt of raw material, energy and freight cost pressures, and the impacts of supply-chain disruptions. These factors are likely to hurt its performance in 2024
Sonoco’s bottom line is impacted by unfavorable foreign currency translation and divestitures. Increased SG&A expenses are worrisome. These are likely to persist and dent the company’s results in the upcoming quarters.
Zacks Rank & Stocks to Consider
Sonoco currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Intellicheck, Inc. IDN, Applied Industrial Technologies AIT and ACCO Brands Corporation ACCO. IDN currently sports a Zacks Rank #1 (Strong Buy), and AIT and ACCO carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Intellicheck’s 2024 earnings is pegged at 2 cents per share. The consensus estimate for 2024 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 28.9%. IDN shares have gained 13.7% in the past year.
Applied Industrial has an average trailing four-quarter earnings surprise of 8.2%. The Zacks Consensus Estimate for AIT’s 2024 earnings is pinned at $9.62 per share, which indicates year-over-year growth of 9.9%. Estimates have moved north by 2% in the past 60 days. The company’s shares have gained 60.1% in the past year.
The Zacks Consensus Estimate for ACCO Brands’ 2024 earnings is pegged at $1.07 per share. The consensus estimate for 2024 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 25.9%. ACCO shares have gained 1.5% in the past year.
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Sonoco (SON) Gains From Pricing Actions Amid Low Volumes

Consumer and education products manufacturer Acco Brands (NYSE: ACCO) beat fourth-quarter expectations, but the company's guidance for 2024 underwhelmed. Investors appear disappointed, sending Acco shares down 12% as of 2 p.m. ET Friday.
A tough environment takes its toll
Acco is a supplier of branded academic, consumer, and business products, including Mead paper, Swingline staplers, Kensington locks, and At-A-Glance planners. The company earned $0.39 per share in the quarter on sales of $488.6 million, surpassing Wall Street's estimate of $0.33 per share in earnings on $476 million in revenue.
But the trends tell a more troubling story. Fourth-quarter sales fell by 2.2% year over year, and 5.9% for the year. Acco in its release said the declines "reflect the challenging macroeconomic environment" as well as "lower than anticipated return to office trends" and tight inventory management by retailers.
The company is not expecting conditions to improve overnight. Acco forecasted 2024 sales to be down 2% to 5% and first-quarter earnings of between $0.01 and $0.04 per share. Wall Street had predicted $0.08 per share in earnings in the current quarter.
Is Acco Brands a buy after its weak report?
The company is not sitting around waiting for economic conditions to improve. On Jan. 30, Acco announced a multiyear restructuring program designed to cut annual costs by at least $60 million. The company is shedding plants and reducing headcount to get costs in line with business trends.
There are some silver linings in the report. Acco managed to improve gross margin by 420 basis points in 2023, despite revenue declines, and operating cash flow for the year improved by $51 million to $128.7 million.
Following Friday's decline, investors buying in today would get a dividend yielding 5.42% to wait for a turnaround. There are a lot of risks embedded in the stock, including continued questions about the post-pandemic office and work environment, but post-earnings Acco appears to at least offer a better value proposition to prospective investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Acco Brands Stock Is Falling Today

Looking at the universe of stocks we cover at Dividend Channel, in trading on Friday, shares of Acco Brands Corp (Symbol: ACCO) were yielding above the 5% mark based on its quarterly dividend (annualized to $0.3), with the stock changing hands as low as $5.15 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the iShares Russell 3000 ETF (IWV) back on 5/31/2000 — you would have paid $78.27 per share. Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 5% would appear considerably attractive if that yield is sustainable. Acco Brands Corp (Symbol: ACCO) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Acco Brands Corp, looking at the history chart for ACCO below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield.
NXZ Historical Stock Prices
CTRA Insider Buying
Funds Holding NAPA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Acco Brands Corporation

Price history and volume

Shares 360

Investment risk — low

Investment potential — low

Security parameters