ACCO Brands Co. (NYSE:ACCO) Short Interest Update

ACCO Brands Co. (NYSE:ACCO) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,150,000 shares, a decline of 9.3% from the September 30th total of 2,370,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 553,900 shares, the short-interest ratio is currently 3.9 days.

Insider Activity

In related news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

ACCO Brands Trading Up 2.1 %

Shares of ACCO stock traded up $0.10 on Wednesday, reaching $4.97. 407,378 shares of the stock were exchanged, compared to its average volume of 615,398. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09. ACCO Brands has a one year low of $4.36 and a one year high of $6.62. The stock has a market cap of $475.13 million, a PE ratio of -18.56, a P/E/G ratio of 0.42 and a beta of 1.62. The stock has a 50 day moving average price of $5.26 and a 200 day moving average price of $5.02.

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

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, November 15th. 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.