Albany International Corp. (NYSE:AIN – Get Free Report) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 326,800 shares, an increase of 11.5% from the July 31st total of 293,000 shares. Based on an average daily volume of 142,500 shares, the short-interest ratio is presently 2.3 days.
Wall Street Analysts Forecast Growth
AIN has been the topic of several recent research reports. Bank of America lowered their price target on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Truist Financial reduced their price target on shares of Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.50.
Read Our Latest Analysis on AIN
Institutional Inflows and Outflows
Albany International Stock Performance
Shares of NYSE AIN traded up $1.08 during trading hours on Monday, hitting $94.16. 101,500 shares of the stock were exchanged, compared to its average volume of 142,842. Albany International has a one year low of $78.20 and a one year high of $99.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The firm has a market capitalization of $2.94 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.80 and a beta of 1.26. The company’s 50 day moving average is $88.16 and its 200 day moving average is $89.04.
Albany International (NYSE:AIN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, research analysts expect that Albany International will post 3.76 EPS for the current year.
Albany International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s payout ratio is 29.21%.
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.
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