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

ACCO Brands Co. (NYSE:ACCO) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 1,450,000 shares, a decrease of 31.9% from the October 31st total of 2,130,000 shares. Based on an average daily volume of 589,500 shares, the short-interest ratio is presently 2.5 days. Currently, 1.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in ACCO Brands by 15.6% in the third quarter. Sanctuary Advisors LLC now owns 98,646 shares of the industrial products company’s stock worth $574,000 after acquiring an additional 13,335 shares in the last quarter. Virtu Financial LLC bought a new position in ACCO Brands in the third quarter worth approximately $188,000. Barclays PLC boosted its holdings in ACCO Brands by 285.3% in the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 109,813 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in ACCO Brands by 30.5% in the third quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock worth $252,000 after acquiring an additional 10,801 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ACCO Brands by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after acquiring an additional 53,490 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Trading Up 0.2 %

Shares of ACCO stock traded up $0.01 on Friday, hitting $5.82. The company had a trading volume of 262,205 shares, compared to its average volume of 624,220. The firm has a market cap of $540.56 million, a P/E ratio of -3.07, a P/E/G ratio of 0.46 and a beta of 1.63. The stock’s 50-day moving average is $5.45 and its two-hundred day moving average is $5.15. 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 twelve month low of $4.36 and a twelve month high of $6.62.

ACCO Brands (NYSE:ACCO) last released 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 business had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $418.20 million. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, November 15th. This represents a $0.30 annualized dividend and a yield of 5.15%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACCO. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Barrington Research increased their price target on ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

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.