ACCO Brands Co. (NYSE:ACCO) Short Interest Up 32.9% in August

ACCO Brands Co. (NYSE:ACCO) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,100,000 shares, an increase of 32.9% from the August 15th total of 1,580,000 shares. Based on an average daily volume of 591,400 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.3% of the shares of the company are short sold.

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On ACCO Brands

A number of large investors have recently modified their holdings of ACCO. Somerset Trust Co bought a new stake in ACCO Brands in the second quarter worth $57,000. Innealta Capital LLC purchased a new stake in ACCO Brands during the 1st quarter valued at about $65,000. SG Americas Securities LLC bought a new position in ACCO Brands during the 1st quarter worth approximately $71,000. Paloma Partners Management Co purchased a new position in ACCO Brands in the 1st quarter worth approximately $74,000. Finally, Nisa Investment Advisors LLC lifted its position in ACCO Brands by 841.0% in the second quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 14,507 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACCO has been the subject of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Price Performance

ACCO Brands stock traded down $0.03 during mid-day trading on Monday, hitting $5.31. 479,386 shares of the company traded hands, compared to its average volume of 627,563. The stock has a fifty day moving average price of $5.05 and a 200-day moving average price of $5.06. The stock has a market cap of $507.64 million, a price-to-earnings ratio of -19.67, a price-to-earnings-growth ratio of 0.41 and a beta of 1.62. ACCO Brands has a one year low of $4.36 and a one year high of $6.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $438.30 million during the quarter, compared to the consensus estimate of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities analysts predict that ACCO Brands will post 1.04 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, September 4th. Stockholders of record on Friday, August 16th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 5.65%. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

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.