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

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

Insider Activity at Albany International

In other news, VP Joseph M. Gaug bought 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now owns 6,811 shares in the company, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gunnar Kleveland purchased 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.25 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. The trade was a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,450 shares of company stock valued at $245,813 over the last quarter. 0.76% of the stock is owned by company insiders.

Institutional Trading of Albany International

A number of hedge funds have recently modified their holdings of AIN. Quarry LP raised its position in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC lifted its stake in Albany International by 27.4% in 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 in the last quarter. Hilltop National Bank boosted its holdings in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after buying an additional 134 shares during the period. KBC Group NV increased its position in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Albany International during the first quarter worth $102,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Albany International Trading Down 0.5 %

NYSE AIN traded down $0.43 during trading hours 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. Albany International has a twelve month low of $67.39 and a twelve month high of $99.41. The firm has a market capitalization of $2.51 billion, a P/E ratio of 25.03, a PEG ratio of 2.60 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $79.06 and a 200 day moving average of $84.66.

Albany International (NYSE:AIN) last issued 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 net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. Equities research analysts forecast that Albany International will post 3.2 earnings per share for the current fiscal year.

Albany International Announces Dividend

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

About Albany International

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.