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

Albany International Corp. (NYSE:AIN) 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilltop National Bank grew its position in shares of Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Creative Planning boosted its position in Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock valued at $424,000 after buying an additional 147 shares during the period. Arizona State Retirement System boosted its holdings in shares of Albany International by 2.0% during the second quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after purchasing an additional 175 shares during the period. Finally, Dakota Wealth Management raised its stake in Albany International by 1.5% in the second quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

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) 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.