ACCO Brands Co. (NYSE:ACCO) Sees Short Interest Surge in November

ACCO Brands Co. (NYSE:ACCO) experienced a notable rise in short interest during November. As of November 30th, the total short interest reached 1,590,000 shares, marking a 9.7% increase from the previous total of 1,450,000 shares reported on November 15th. Currently, approximately 1.8% of the company’s shares are sold short. With an average daily trading volume of 610,600 shares, this results in a short-interest ratio of 2.6 days.

Analysts Adjust Price Targets

Recent reports from various research analysts have provided new insights into ACCO Brands' stock performance. Barrington Research raised their price target for ACCO Brands from $7.00 to $7.50, maintaining an "outperform" rating in a report released on November 22nd. Additionally, StockNews.com upgraded their rating for ACCO Brands from a "buy" to a "strong-buy" in a report from Thursday.

Performance of ACCO Brands Stock

On Friday, ACCO stock saw a decrease of $0.15, bringing its price down to $5.89. A total of 450,971 shares were exchanged, in comparison to the average volume of 628,860 shares. The company boasts a market capitalization of $547.06 million, with a PE ratio of -3.12 and a PEG ratio of 0.48. The beta of the stock stands at 1.67. The stock is trading with a fifty-day moving average of $5.62 and a 200-day moving average of $5.23. ACCO Brands' shares reached a one-year low of $4.36 and a high of $6.62.

Quarterly Earnings Results

ACCO Brands released their latest quarterly earnings data on October 31st. The company reported earnings per share (EPS) of $0.23, meeting analysts' expectations. ACCO Brands achieved a positive return on equity of 14.30%, though it recorded a net margin of -10.64%. The revenue for the quarter was $420.90 million, surpassing analyst predictions of $418.20 million. However, revenue declined by 6.0% compared to the previous year's quarter. Analysts forecast that ACCO Brands will report an EPS of 1.04 for the current fiscal year.

Dividend Announcement from ACCO Brands

Recently, ACCO Brands declared a quarterly dividend, which was disbursed on December 11th. Shareholders who were on record as of November 15th received a dividend payment of $0.075. The ex-dividend date was also November 15th. This equates to an annualized dividend of $0.30, offering a yield of 5.09%. Currently, ACCO Brands has a dividend payout ratio (DPR) of -15.87%.

Institutional Investments in ACCO Brands

In recent months, several large investors have either increased or adjusted their holdings in ACCO. FMR LLC boosted their share ownership by 123.0% in the third quarter, now owning 5,911 shares valued at $32,000 after purchasing an additional 3,260 shares. nVerses Capital LLC raised their position by 68.3%, acquiring a total of 6,900 shares worth $38,000. Meanwhile, EP Wealth Advisors LLC took a new position in ACCO worth $61,000 during the same period. Other investors include Y Intercept Hong Kong Ltd and Nisa Investment Advisors LLC, the latter increasing its stake by an impressive 841.0%. Approximately 84.56% of ACCO Brands' stock is held by institutional investors.

Overview of ACCO Brands

ACCO Brands Corporation is recognized for designing, manufacturing, and marketing various consumer, school, technology, and office products. The company operates under three primary segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. Its product range includes accessories for computers and gaming, planners, dry erase boards, school notebooks, and janitorial supplies, among others.

ACCO, Stocks, ShortInterest