Short Interest in ACCO Brands Co. (NYSE:ACCO) Rises By 32.9%

ACCO Brands Co. (NYSE:ACCO) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,100,000 shares, a growth of 32.9% from the August 15th total of 1,580,000 shares. Based on an average daily trading volume, of 591,400 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.3% of the shares of the company are sold short.

Insider Buying and Selling

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares in the company, valued at $1,334,127.53. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of ACCO Brands

Hedge funds have recently modified their holdings of the business. Capital Management Corp VA grew its holdings in ACCO Brands by 286.7% during the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after acquiring an additional 1,802,250 shares during the period. Bank of Montreal Can acquired a new position in shares of ACCO Brands during the 2nd quarter worth $4,588,000. Allspring Global Investments Holdings LLC increased its holdings in shares of ACCO Brands by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares in the last quarter. Millennium Management LLC increased its holdings in shares of ACCO Brands by 116.1% in the 2nd quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock valued at $5,517,000 after purchasing an additional 630,663 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of ACCO Brands by 113.0% in the second quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock valued at $5,001,000 after purchasing an additional 564,406 shares during the period. 84.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACCO has been the topic of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Stock Performance

NYSE:ACCO traded down $0.03 during midday trading on Monday, reaching $5.31. The stock had a trading volume of 479,386 shares, compared to its average volume of 627,563. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The stock has a market cap of $508.70 million, a P/E ratio of -19.67, a P/E/G ratio of 0.41 and a beta of 1.62. The firm has a fifty day simple moving average of $5.05 and a two-hundred day simple moving average of $5.06. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $438.30 million for the quarter, compared to the consensus estimate of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts expect that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.65%. The ex-dividend date was Friday, August 16th. ACCO Brands’s payout ratio is -111.11%.

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.