Short Interest in ACCO Brands Co. (NYSE:ACCO) Increases By 9.7%

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ACCO Brands Co. (NYSE:ACCO) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,604,800 shares, a growth of 9.7% from the June 30th total of 2,373,700 shares. Based on an average daily volume of 636,700 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.6% of the shares of the stock are sold short.

Several equities analysts have recently commented on the company. Noble Financial reiterated a “buy” rating and set a $14.00 price objective on shares of ACCO Brands in a research report on Thursday, August 8th. Barrington Research reiterated a “buy” rating and set a $11.00 price objective on shares of ACCO Brands in a research report on Wednesday, May 8th. ValuEngine upgraded ACCO Brands from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $12.00.

ACCO opened at $9.45 on Friday. The stock’s 50 day simple moving average is $8.39 and its 200 day simple moving average is $8.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.94 and a quick ratio of 1.20. ACCO Brands has a 1 year low of $6.07 and a 1 year high of $12.63. The firm has a market cap of $920.80 million, a price-to-earnings ratio of 8.29, a PEG ratio of 1.13 and a beta of 1.89.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. ACCO Brands had a return on equity of 16.06% and a net margin of 5.43%. The business had revenue of $518.70 million for the quarter, compared to analyst estimates of $493.89 million. During the same period last year, the company earned $0.32 EPS. ACCO Brands’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACCO Brands will post 1.19 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, August 23rd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.24 annualized dividend and a yield of 2.54%. ACCO Brands’s payout ratio is 21.05%.

In other news, SVP Ralph Paul Hargrow sold 19,977 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $9.50, for a total transaction of $189,781.50. Following the transaction, the senior vice president now directly owns 139,441 shares in the company, valued at approximately $1,324,689.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in ACCO Brands by 138.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,642 shares of the industrial products company’s stock worth $41,000 after buying an additional 2,697 shares during the period. Point72 Hong Kong Ltd lifted its holdings in ACCO Brands by 131.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,289 shares of the industrial products company’s stock worth $73,000 after buying an additional 5,276 shares during the period. Raymond James Trust N.A. purchased a new stake in ACCO Brands in the 2nd quarter worth approximately $83,000. Abacus Planning Group Inc. purchased a new stake in ACCO Brands in the 1st quarter worth approximately $88,000. Finally, Man Group plc purchased a new stake in ACCO Brands in the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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