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

ACCO Brands Co. (NYSE:ACCO) was the recipient of a significant growth in short interest in 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 trading volume of 591,400 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.3% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Insider Buying and Selling at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now directly owns 243,899 shares in the company, valued at $1,334,127.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings 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 worth $32,381,000 after purchasing an additional 706,291 shares during the period. LSV Asset Management grew its stake in shares of ACCO Brands by 0.7% in the 1st quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock worth $19,022,000 after buying an additional 24,900 shares during the last quarter. Capital Management Corp VA increased its position in ACCO Brands by 286.7% during the 1st quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after buying an additional 1,802,250 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after buying an additional 68,416 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings 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 acquiring an additional 426,201 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

ACCO Brands Stock Down 0.6 %

ACCO Brands stock traded down $0.03 during trading hours on Monday, hitting $5.31. 479,386 shares of the stock traded hands, compared to its average volume of 627,563. ACCO Brands has a one year low of $4.36 and a one year high of $6.62. The firm’s 50-day moving average price is $5.05 and its two-hundred day moving average price is $5.06. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The company has a market cap of $507.64 million, a PE ratio of -19.67, a PEG ratio of 0.41 and a beta of 1.62.

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, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. On average, research analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

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