Albany International Corp. (NYSE:AIN) Short Interest Update

Albany International Corp. (NYSE:AIN) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 386,000 shares, a growth of 22.2% from the October 15th total of 315,800 shares. Based on an average daily volume of 198,000 shares, the short-interest ratio is presently 1.9 days.

Albany International Trading Down 0.5 %

NYSE AIN traded down $0.43 on Friday, hitting $80.09. The company’s stock had a trading volume of 262,587 shares, compared to its average volume of 282,420. The company’s 50-day moving average is $79.06 and its 200 day moving average is $84.66. The firm has a market cap of $2.51 billion, a PE ratio of 25.03, a PEG ratio of 2.60 and a beta of 1.29. Albany International has a 1-year low of $67.39 and a 1-year high of $99.41. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that Albany International will post 3.2 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 32.50%.

Insider Activity

In related news, CEO Gunnar Kleveland acquired 1,400 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now owns 8,284 shares in the company, valued at $590,235. This represents a 20.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Alan Hansen bought 1,050 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the acquisition, the senior vice president now owns 8,387 shares of the company’s stock, valued at $597,657.62. The trade was a 14.31 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock worth $245,813 over the last ninety days. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Albany International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP increased its holdings in Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after buying an additional 145 shares during the last quarter. Hilltop National Bank grew its holdings in Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares in the last quarter. KBC Group NV raised its position in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after buying an additional 237 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Albany International during the 1st quarter valued at $102,000. Institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AIN. Truist Financial lowered their price target on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America reduced their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday. Finally, TD Cowen cut their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.50.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.