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

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

Analyst Upgrades and Downgrades

ACCO has been the topic of several recent analyst reports. Barrington Research decreased 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. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research report on Friday, March 28th.

Hedge Funds Weigh In On ACCO Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of ACCO Brands during the third quarter worth about $98,000. FMR LLC boosted its position in ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,260 shares during the period. HighTower Advisors LLC grew its stake in shares of ACCO Brands by 21.0% in the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 12,508 shares in the last quarter. Quarry LP raised its stake in shares of ACCO Brands by 749.0% in the third quarter. Quarry LP now owns 16,573 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 14,621 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in ACCO Brands by 2.7% in the third quarter. Stifel Financial Corp now owns 313,644 shares of the industrial products company’s stock valued at $1,716,000 after purchasing an additional 8,153 shares during the period. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Trading Down 4.4 %

NYSE ACCO traded down $0.19 during trading hours on Thursday, reaching $4.09. The company had a trading volume of 677,062 shares, compared to its average volume of 663,659. ACCO Brands has a 1-year low of $3.99 and a 1-year high of $6.44. The stock has a market capitalization of $379.88 million, a P/E ratio of -3.86, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The stock has a 50-day moving average of $4.82 and a 200 day moving average of $5.24. The company has a current ratio of 1.60, a quick ratio of 0.94 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). ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The company had revenue of $448.10 million for the quarter, compared to analysts’ expectations of $455.06 million. As a group, research analysts anticipate that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 7.33%. ACCO Brands’s payout ratio is presently -28.30%.

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.