ACCO Brands Co. (NYSE:ACCO) Sees 9.7% Increase in Short Interest for November

ACCO Brands Co. (NYSE:ACCO - Get Free Report) experienced a notable rise in short interest during the month of November. By November 30th, there was a total of 1,590,000 shares sold short, reflecting a 9.7% increase from 1,450,000 shares noted on November 15th. Currently, approximately 1.8% of the company's total shares are being shorted. With an average daily trading volume of 610,600 shares, this results in a short-interest ratio of 2.6 days.

Recent Analyst Price Adjustments

Several research analysts have recently made updates regarding ACCO Brands. On November 22nd, Barrington Research raised its price target on the shares from $7.00 to $7.50, while also assigning an "outperform" rating. Additionally, StockNews.com upgraded its rating on ACCO Brands from "buy" to a "strong-buy" in its report.

Stock Performance Overview

On Friday, ACCO's stock saw a decrease of $0.15, bringing its value down to $5.89. A total of 450,971 shares traded, which is lower than its average volume of 628,860. The company has a market capitalization of $547.06 million and shows a price-to-earnings (PE) ratio of -3.12 and a price/earnings to growth (PEG) ratio of 0.48. The stock's beta is recorded at 1.67. ACCO Brands has a fifty-day moving average at $5.62 and a 200-day moving average at $5.23. Over the past year, the stock has hit a low of $4.36 and a high of $6.62.

ACCO Brands released its latest quarterly earnings on October 31st, revealing an earnings per share (EPS) of $0.23, meeting the consensus estimate. The return on equity was positive at 14.30%, although the net margin was negative at 10.64%. The company reported revenues of $420.90 million for the quarter, surpassing analyst expectations of $418.20 million. Comparatively, revenue declined by 6.0% relative to the same quarter from the previous year. Analysts predict that ACCO Brands will report an EPS of 1.04 for the current fiscal year.

Dividend Announcement

Recently, ACCO Brands declared a quarterly dividend, which was disbursed on December 11th. Shareholders on record as of November 15th received a dividend of $0.075. The ex-dividend date, marking when the stock starts trading without the value of its next dividend, was also November 15th. This represents an annualized dividend of $0.30 and a yield of 5.09%. Currently, ACCO Brands has a dividend payout ratio (DPR) of -15.87%.

Institutional Investment Trends

Several institutional investors have adjusted their holdings in ACCO Brands. FMR LLC increased its stake by 123.0% in the third quarter, now owning 5,911 shares valued at $32,000 after acquiring an additional 3,260 shares. nVerses Capital LLC also raised its position by 68.3%, now holding 6,900 shares worth $38,000 after purchasing 2,800 more. Other notable investors include EP Wealth Advisors LLC, which acquired a new stake valued at $61,000, and Y Intercept Hong Kong Ltd, which bought a new stake valued at approximately $63,000. Nisa Investment Advisors LLC also increased its stake in ACCO Brands by 841.0%. Collectively, institutional investors hold 84.56% of the stock.

Company Background

ACCO Brands Corporation is involved in designing, manufacturing, and marketing a variety of consumer, school, technology, and office products. The firm operates through three main segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. Its product range includes computer and gaming accessories, planners, whiteboards, school notebooks, cleaning supplies, organizational products like binders and sheet protectors, as well as office tools like staplers and binding machines.

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