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

ACCO Brands Co. (NYSE:ACCO – Get Rating) was the target of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 1,870,000 shares, a growth of 11.3% from the December 15th total of 1,680,000 shares. Based on an average trading volume of 710,100 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com cut ACCO Brands from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Barrington Research cut their price target on ACCO Brands from $11.00 to $7.00 in a report on Monday, October 17th.

Insider Buying and Selling at ACCO Brands

In other news, CEO Boris Elisman bought 10,000 shares of ACCO Brands stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $5.17 per share, with a total value of $51,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,241,530 shares of the company’s stock, valued at $6,418,710.10. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in shares of ACCO Brands by 36.0% during the first quarter. Great West Life Assurance Co. Can now owns 7,435 shares of the industrial products company’s stock worth $62,000 after buying an additional 1,968 shares during the period. Royce & Associates LP boosted its position in shares of ACCO Brands by 23.4% during the second quarter. Royce & Associates LP now owns 12,785 shares of the industrial products company’s stock worth $83,000 after buying an additional 2,426 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of ACCO Brands by 20.2% during the third quarter. Wedge Capital Management L L P NC now owns 15,203 shares of the industrial products company’s stock worth $74,000 after buying an additional 2,556 shares during the period. Alps Advisors Inc. boosted its position in shares of ACCO Brands by 19.1% during the second quarter. Alps Advisors Inc. now owns 17,090 shares of the industrial products company’s stock worth $112,000 after buying an additional 2,736 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of ACCO Brands by 0.4% during the second quarter. North Star Investment Management Corp. now owns 820,099 shares of the industrial products company’s stock worth $5,355,000 after buying an additional 3,035 shares during the period. 80.65% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands Trading Up 0.3 %

Shares of ACCO Brands stock opened at $6.12 on Tuesday. The firm has a market capitalization of $576.88 million, a price-to-earnings ratio of 32.21, a PEG ratio of 0.44 and a beta of 1.76. ACCO Brands has a fifty-two week low of $4.27 and a fifty-two week high of $9.00. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.96 and a current ratio of 1.82. The stock has a 50 day moving average of $5.69 and a 200 day moving average of $5.77.

ACCO Brands (NYSE:ACCO – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $485.60 million during the quarter, compared to analyst estimates of $484.78 million. ACCO Brands had a return on equity of 14.54% and a net margin of 1.07%. As a group, research analysts predict that ACCO Brands will post 1.06 earnings per share for the current year.

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 25th were given a $0.075 dividend. The ex-dividend date was Wednesday, November 23rd. This represents a $0.30 annualized dividend and a yield of 4.90%. ACCO Brands’s payout ratio is 157.90%.

ACCO Brands Company Profile

(Get Rating)

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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.