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

ACCO Brands Co. (NYSE:ACCO) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 2,090,000 shares, a decline of 20.8% from the June 15th total of 2,640,000 shares. Based on an average daily volume of 623,200 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.3% of the company’s shares are sold short.

Insider Buying and Selling at ACCO Brands

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total value of $74,400.00. Following the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at $92,360.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of ACCO Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of ACCO. New York State Teachers Retirement System acquired a new stake in ACCO Brands in the fourth quarter valued at $50,000. Somerset Trust Co purchased a new position in shares of ACCO Brands during the second quarter worth about $57,000. Innealta Capital LLC purchased a new position in shares of ACCO Brands during the first quarter worth about $65,000. SG Americas Securities LLC purchased a new position in shares of ACCO Brands during the first quarter worth about $71,000. Finally, Gladius Capital Management LP purchased a new position in shares of ACCO Brands during the fourth quarter worth about $73,000. 84.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACCO. Barrington Research cut their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, June 22nd.

ACCO Brands Stock Up 1.3 %

Shares of NYSE ACCO opened at $4.74 on Tuesday. The stock has a market cap of $453.14 million, a P/E ratio of -17.56, a PEG ratio of 0.37 and a beta of 1.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. ACCO Brands has a 12-month low of $4.46 and a 12-month high of $6.62. The business’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $5.41.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The business had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities analysts predict that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend was Thursday, May 16th. ACCO Brands’s dividend payout ratio 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.