Albany International Corp. (NYSE:AIN) Sees Large Drop in Short Interest

Albany International Corp. (NYSE:AIN) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 307,400 shares, a drop of 6.1% from the August 31st total of 327,300 shares. Based on an average daily trading volume, of 155,400 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently made changes to their positions in the business. Whittier Trust Co. boosted its position in shares of Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. Hilltop National Bank boosted its holdings in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after acquiring an additional 1,091 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Albany International in the first quarter worth approximately $102,000. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

AIN stock opened at $87.45 on Wednesday. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $88.65 and its 200 day simple moving average is $88.08. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.42 and a beta of 1.26.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts expect that Albany International will post 3.71 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. Albany International’s payout ratio is 29.21%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial decreased 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. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.50.

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.