Dubbed by the DividendRank formula as one of the most promising stock picks, Acco Brands Corp (Symbol: ACCO) showcases robust fundamentals coupled with an enticing valuation. With a current ranking in the top 25% of the coverage universe, this company beckons further investigation from discerning investors.
Venturing into the tempest of Friday’s trading session, ACCO shares took a sharp dip, plummeting to $5.1501 per share and breaching the oversold threshold. The Relative Strength Index (RSI) clocked in at 27.8, painting a vivid picture of the downward momentum. This technical indicator, ranging from 0 to 100, flags a stock as oversold when the RSI figure plunges below 30. For context, the average RSI of dividend stocks tracked by Dividend Channel stands at 52.3.
The provocative $6.42 share price unveils an annualized dividend of 0.3/share, doffing its hat to a generous 4.67% annual yield. This markdown in stock price, holding other variables constant, presents a golden opportunity for dividend enthusiasts to grasp a heftier yield.
Tiptoeing through the numbers, a bullish investor might interpret ACCO’s RSI of 27.8 as a beacon of hope amidst the storm of recent sell-offs. It hints at a potential exhaustion of the downward spiral, nudging buyers to ponder favorable entry points. Peeling back the layers, investors would be wise to scrutinize ACCO’s dividend trajectory to calibrate their bullish inclinations.
Click here to find out what 9 other oversold
dividend stocks you need to know about »
Explore Further:
- Top Ten Hedge Funds Holding DUKH
- SPTM Average Annual Return
- HIPS Videos
The views and opinions expressed herein are the views and opinions of the author and do not
necessarily reflect those of Nasdaq, Inc.
