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

Albany International Corp. (NYSE:AIN) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 315,800 shares, a growth of 9.1% from the September 30th total of 289,400 shares. Based on an average daily volume of 170,600 shares, the days-to-cover ratio is currently 1.9 days.

Albany International Price Performance

Shares of NYSE:AIN traded down $0.92 during trading on Wednesday, reaching $70.75. The stock had a trading volume of 185,565 shares, compared to its average volume of 154,253. Albany International has a 52 week low of $69.19 and a 52 week high of $99.41. The business’s 50-day moving average price is $82.53 and its 200 day moving average price is $85.58. 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 stock has a market capitalization of $2.21 billion, a PE ratio of 20.13, a P/E/G ratio of 2.39 and a beta of 1.25.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue was up 21.1% on a year-over-year basis. As a group, equities analysts predict that Albany International will post 3.11 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial decreased their price objective on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen decreased 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd bought a new position in Albany International in the 1st quarter worth approximately $679,000. Assenagon Asset Management S.A. raised its position in Albany International by 29.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock worth $8,490,000 after purchasing an additional 23,018 shares during the last quarter. Sei Investments Co. raised its position in Albany International by 3.7% in the 1st quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock worth $64,970,000 after purchasing an additional 24,720 shares during the last quarter. Vanguard Group Inc. raised its position in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in Albany International by 9.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock worth $2,677,000 after purchasing an additional 2,367 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

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.