ACCO Brands Co. (NYSE:ACCO) Short Interest Up 25.9% in May

ACCO Brands Co. (NYSE:ACCOGet Free Report) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 2,330,000 shares, an increase of 25.9% from the May 15th total of 1,850,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 670,000 shares, the days-to-cover ratio is presently 3.5 days.

Insiders Place Their Bets

In related news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACCO. Allspring Global Investments Holdings LLC raised its position in shares of ACCO Brands by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after buying an additional 706,291 shares during the last quarter. Wellington Management Group LLP raised its position in shares of ACCO Brands by 7.7% during the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock valued at $31,999,000 after buying an additional 396,588 shares during the last quarter. LSV Asset Management raised its position in shares of ACCO Brands by 0.7% during the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock valued at $19,022,000 after buying an additional 24,900 shares during the last quarter. Capital Management Corp VA raised its position in shares of ACCO Brands by 286.7% during the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after buying an additional 1,802,250 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after buying an additional 68,416 shares during the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

ACCO Brands Stock Performance

ACCO Brands stock traded up $0.07 on Monday, reaching $4.75. 567,566 shares of the stock were exchanged, compared to its average volume of 648,526. The stock has a market cap of $454.10 million, a PE ratio of -17.59, a PEG ratio of 0.37 and a beta of 1.63. 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 twelve month low of $4.62 and a twelve month high of $6.62. The firm has a fifty day moving average price of $5.00 and a two-hundred day moving average price of $5.54.

ACCO Brands (NYSE:ACCOGet Free Report) last released its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $358.90 million during the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.42%. The business’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. Sell-side analysts anticipate that ACCO Brands will post 1.05 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend was Thursday, May 16th. ACCO Brands’s dividend payout ratio is -111.11%.

Wall Street Analyst Weigh In

ACCO has been the subject of several analyst reports. StockNews.com lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Friday. Barrington Research reduced their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th.

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About ACCO Brands

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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.

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