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

ACCO Brands Co. (NYSE:ACCO) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,890,000 shares, a drop of 20.9% from the January 31st total of 2,390,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 698,300 shares, the days-to-cover ratio is currently 2.7 days.

ACCO Brands Trading Up 0.6 %

NYSE ACCO traded up $0.03 during trading on Wednesday, hitting $4.44. The company had a trading volume of 1,367,660 shares, compared to its average volume of 627,665. The company’s fifty day moving average is $5.12 and its 200-day moving average is $5.37. ACCO Brands has a one year low of $4.30 and a one year high of $6.44. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The company has a market cap of $411.93 million, a price-to-earnings ratio of -4.18, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $455.06 million. On average, sell-side analysts predict that ACCO Brands will post 1.02 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.76%. ACCO Brands’s payout ratio is -28.30%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barrington Research lowered their price target on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded ACCO Brands from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th.

Hedge Funds Weigh In On ACCO Brands

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after buying an additional 3,260 shares during the period. EP Wealth Advisors LLC bought a new stake in ACCO Brands during the third quarter worth about $61,000. Burns Matteson Capital Management LLC purchased a new stake in ACCO Brands in the fourth quarter worth about $61,000. Y Intercept Hong Kong Ltd bought a new position in shares of ACCO Brands during the third quarter valued at approximately $63,000. Finally, Xponance Inc. purchased a new position in shares of ACCO Brands during the fourth quarter valued at approximately $65,000. Institutional investors own 84.56% of the company’s stock.

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.