Albany International Corporation (NYSE:AIN) Short Interest Update

Albany International Corporation (NYSE:AIN) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 706,367 shares, a decrease of 22.7% from the December 15th total of 913,402 shares. Based on an average daily trading volume, of 288,593 shares, the short-interest ratio is currently 2.4 days. Approximately 2.5% of the company’s shares are short sold. Approximately 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 288,593 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial set a $55.00 target price on Albany International in a research report on Friday, January 9th. JPMorgan Chase & Co. boosted their price objective on shares of Albany International from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday. Zacks Research lowered shares of Albany International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Albany International in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $61.50.

Insider Activity

In other news, CEO Gunnar Kleveland purchased 2,300 shares of Albany International stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $42.04 per share, with a total value of $96,692.00. Following the transaction, the chief executive officer owned 19,895 shares in the company, valued at $836,385.80. This represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Albany International by 227.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 174 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Albany International by 42.3% in the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after acquiring an additional 270 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Albany International during the 3rd quarter worth approximately $66,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Albany International in the 2nd quarter valued at approximately $77,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Trading Down 1.1%

NYSE AIN traded down $0.66 during trading on Friday, hitting $57.86. The stock had a trading volume of 335,858 shares, compared to its average volume of 277,058. The company has a quick ratio of 1.84, a current ratio of 2.34 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.66 billion, a PE ratio of -29.82, a PEG ratio of 2.33 and a beta of 1.21. The firm has a 50 day moving average price of $50.11 and a 200 day moving average price of $57.38. Albany International has a twelve month low of $41.15 and a twelve month high of $83.65.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.11). Albany International had a negative net margin of 4.66% and a positive return on equity of 8.98%. The business had revenue of $307.44 million during the quarter, compared to analysts’ expectations of $303.41 million. During the same period in the previous year, the business posted $0.80 EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that Albany International will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.28 per share. This is an increase from Albany International’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, December 16th. Albany International’s dividend payout ratio is currently -57.73%.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.