ACCO Brands Co. (NYSE:ACCO) Short Interest Down 6.6% in July

ACCO Brands Co. (NYSE:ACCO) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,970,000 shares, a drop of 6.6% from the July 15th total of 2,110,000 shares. Based on an average trading volume of 609,400 shares, the short-interest ratio is currently 3.2 days. Currently, 2.1% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barrington Research decreased their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Management Corp VA increased its holdings in ACCO Brands by 286.7% during the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after buying an additional 1,802,250 shares during the last quarter. Bank of Montreal Can bought a new position in ACCO Brands during the second quarter valued at $4,588,000. Allspring Global Investments Holdings LLC increased its position 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 buying an additional 706,291 shares during the last quarter. Millennium Management LLC raised its stake in shares of ACCO Brands by 116.1% in 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 buying an additional 630,663 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of ACCO Brands by 113.0% during the 2nd quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock valued at $5,001,000 after buying an additional 564,406 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

ACCO Brands Stock Up 3.5 %

Shares of NYSE:ACCO opened at $5.28 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.69. ACCO Brands has a 52-week low of $4.36 and a 52-week high of $6.62. The business’s 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $5.18. The firm has a market cap of $504.77 million, a P/E ratio of -19.56, a PEG ratio of 0.40 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The business had revenue of $438.30 million during the quarter, compared to the consensus estimate of $452.73 million. During the same quarter last year, the firm posted $0.38 EPS. ACCO Brands’s revenue was down 11.3% compared to the same quarter last year. As a group, research analysts forecast that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is 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.