ACCO Brands Co. (NYSE:ACCO) Sees Significant Increase in Short Interest

ACCO Brands Co. (NYSE:ACCO) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,590,000 shares, a growth of 9.7% from the November 15th total of 1,450,000 shares. Based on an average trading volume of 610,600 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.8% of the shares of the company are sold short.

ACCO Brands Price Performance

Shares of ACCO stock traded down $0.15 on Friday, reaching $5.89. The company’s stock had a trading volume of 450,971 shares, compared to its average volume of 628,860. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62. The stock’s 50 day simple moving average is $5.62 and its 200-day simple moving average is $5.23. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $547.06 million, a P/E ratio of -3.12, a PEG ratio of 0.48 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. As a group, equities analysts predict that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Friday, November 15th. ACCO Brands’s dividend payout ratio (DPR) is currently -15.87%.

Wall Street Analysts Forecast Growth

ACCO has been the subject of a number of recent analyst reports. StockNews.com raised ACCO Brands from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barrington Research boosted their price objective on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in ACCO Brands by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,023,805 shares of the industrial products company’s stock valued at $32,950,000 after acquiring an additional 272,454 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of ACCO Brands by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,776,716 shares of the industrial products company’s stock valued at $26,129,000 after purchasing an additional 81,990 shares in the last quarter. Capital Management Corp VA grew its holdings in shares of ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after purchasing an additional 439,810 shares during the last quarter. Geode Capital Management LLC raised its position in ACCO Brands by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after purchasing an additional 53,490 shares during the period. Finally, AQR Capital Management LLC lifted its stake in ACCO Brands by 34.6% in the second quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after purchasing an additional 426,201 shares during the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Company Profile

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.