ACCO Brands Co. (NYSE:ACCO) Short Interest Update

ACCO Brands Co. (NYSE:ACCO) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,970,000 shares, a decrease 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 presently 3.2 days. Approximately 2.1% of the shares of the company are sold short.

ACCO Brands Price Performance

NYSE ACCO opened at $5.27 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $503.81 million, a P/E ratio of -19.52, a PEG ratio of 0.40 and a beta of 1.62. The company has a 50-day moving average price of $4.80 and a 200-day moving average price of $5.18. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $452.73 million. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. Equities research analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.69%. ACCO Brands’s payout ratio is currently -111.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACCO shares. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Barrington Research lowered their price target on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, June 6th.

Institutional Investors Weigh In On ACCO Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in shares of ACCO Brands by 7.8% in the second quarter. Algert Global LLC now owns 301,230 shares of the industrial products company’s stock worth $1,416,000 after purchasing an additional 21,840 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in ACCO Brands by 13.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 248,901 shares of the industrial products company’s stock worth $1,170,000 after buying an additional 29,241 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in ACCO Brands during the second quarter valued at about $121,000. Mackenzie Financial Corp boosted its stake in shares of ACCO Brands by 13.4% in the second quarter. Mackenzie Financial Corp now owns 63,363 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 7,495 shares during the period. Finally, Millennium Management LLC boosted 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 worth $5,517,000 after acquiring an additional 630,663 shares during the period. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.