ACCO Brands Co. (NYSE:ACCO) Sees Large Growth in Short Interest

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACCO. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research reiterated an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a report on Wednesday, September 4th.

Insider Buying and Selling at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction on Tuesday, August 27th. The shares were 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 approximately $1,334,127.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in ACCO Brands by 13.9% during the first 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 buying an additional 706,291 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in ACCO Brands in the first quarter valued at about $810,000. Caxton Associates LP grew its position in shares of ACCO Brands by 421.5% during the 1st quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock valued at $842,000 after acquiring an additional 121,331 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of ACCO Brands by 841.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 14,507 shares during the period. Finally, Aigen Investment Management LP lifted its stake in ACCO Brands by 45.8% in the fourth quarter. Aigen Investment Management LP now owns 64,739 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 20,350 shares during the last quarter. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Stock Down 0.6 %

ACCO traded down $0.03 during mid-day trading on Monday, reaching $5.31. 479,386 shares of the stock were exchanged, compared to its average volume of 627,563. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock has a market capitalization of $508.70 million, a PE ratio of -19.67, a price-to-earnings-growth ratio of 0.41 and a beta of 1.62. The company has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $5.06.

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

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a yield of 5.65%. ACCO Brands’s dividend payout ratio (DPR) is currently -111.11%.

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.