ACCO Brands Co. (NYSE:ACCO) Short Interest Up 9.7% in November

ACCO Brands Co. (NYSE:ACCO) was the recipient of a significant growth in short interest in 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. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 610,600 shares, the short-interest ratio is currently 2.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in shares of ACCO Brands during the 2nd quarter valued at $4,588,000. Millennium Management LLC boosted its stake in shares of ACCO Brands by 116.1% during the second 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. American Century Companies Inc. grew its holdings in shares of ACCO Brands by 113.0% during the second quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock worth $5,001,000 after purchasing an additional 564,406 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of ACCO Brands by 160.6% in the second quarter. Assenagon Asset Management S.A. now owns 819,268 shares of the industrial products company’s stock valued at $3,851,000 after buying an additional 504,876 shares during the period. Finally, Capital Management Corp VA raised its holdings in ACCO Brands by 14.3% in 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 buying an additional 439,810 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ACCO shares. Barrington Research raised their target price on shares of ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com upgraded shares of ACCO Brands from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th.

ACCO Brands Price Performance

ACCO Brands stock opened at $5.82 on Tuesday. The stock has a fifty day moving average of $5.63 and a 200-day moving average of $5.23. The stock has a market capitalization of $540.57 million, a P/E ratio of -3.08, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62.

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

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.15%. ACCO Brands’s dividend payout ratio is currently -15.87%.

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.