Short Interest in ACCO Brands Co. (NYSE:ACCO) Declines By 9.3%

ACCO Brands Co. (NYSE:ACCO) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 2,150,000 shares, a decrease of 9.3% from the September 30th total of 2,370,000 shares. Based on an average daily volume of 553,900 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.3% of the company’s shares are sold short.

ACCO Brands Stock Performance

NYSE:ACCO traded up $0.24 during midday trading on Friday, reaching $5.14. The stock had a trading volume of 493,477 shares, compared to its average volume of 614,709. The stock has a market cap of $492.41 million, a P/E ratio of -2.81, a P/E/G ratio of 0.40 and a beta of 1.62. The firm has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.02. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $420.90 million for the quarter, compared to the consensus estimate of $418.20 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, equities analysts expect that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Friday, November 15th. ACCO Brands’s payout ratio is currently -16.39%.

Analysts Set New Price Targets

ACCO has been the subject of several analyst reports. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a report on Wednesday, September 4th.

Insider Buying and Selling

In related news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On ACCO Brands

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in ACCO Brands by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after acquiring an additional 706,291 shares during the period. SpiderRock Advisors LLC purchased a new position in ACCO Brands during the first quarter worth about $117,000. Prosperity Consulting Group LLC acquired a new stake in ACCO Brands in the 1st quarter worth about $517,000. BNP Paribas Financial Markets grew its holdings in ACCO Brands by 96.7% in the 1st quarter. BNP Paribas Financial Markets now owns 134,397 shares of the industrial products company’s stock valued at $754,000 after buying an additional 66,070 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of ACCO Brands by 12.2% during the 1st quarter. GSA Capital Partners LLP now owns 159,258 shares of the industrial products company’s stock valued at $893,000 after acquiring an additional 17,255 shares during the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

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.