Short Interest in ACCO Brands Co. (NYSE:ACCO) Expands By 22.6%

ACCO Brands Co. (NYSE:ACCO) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,660,000 shares, an increase of 22.6% from the February 28th total of 2,170,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 836,700 shares, the days-to-cover ratio is presently 3.2 days.

Hedge Funds Weigh In On ACCO Brands

A number of hedge funds have recently bought and sold shares of ACCO. FMR LLC raised its holdings in ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after buying an additional 3,260 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of ACCO Brands during the third quarter valued at approximately $61,000. Burns Matteson Capital Management LLC purchased a new position in ACCO Brands in the 4th quarter worth approximately $61,000. Y Intercept Hong Kong Ltd bought a new position in ACCO Brands in the 3rd quarter valued at approximately $63,000. Finally, Xponance Inc. purchased a new stake in ACCO Brands during the 4th quarter valued at $65,000. Institutional investors own 84.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACCO shares. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Friday. Barrington Research dropped their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th.

ACCO Brands Stock Up 1.3 %

Shares of NYSE ACCO traded up $0.06 on Tuesday, reaching $4.25. 951,333 shares of the company’s stock traded hands, compared to its average volume of 664,139. The business’s 50 day simple moving average is $4.84 and its two-hundred day simple moving average is $5.25. ACCO Brands has a 12 month low of $4.06 and a 12 month high of $6.44. The company has a market cap of $394.28 million, a price-to-earnings ratio of -4.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. As a group, equities research analysts forecast that ACCO Brands will post 1.02 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 7.07%. The ex-dividend date was Friday, March 14th. ACCO Brands’s dividend payout ratio is presently -28.30%.

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.