Albany International (NYSE:AIN) Reaches New 1-Year Low – Time to Sell?

Albany International Corp. (NYSE:AIN)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $68.75 and last traded at $70.02, with a volume of 22718 shares changing hands. The stock had previously closed at $70.75.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Truist Financial decreased their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Finally, TD Cowen dropped their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $88.00.

Albany International Trading Up 2.4 %

The company has a 50 day moving average of $81.73 and a 200 day moving average of $85.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 2.36 and a beta of 1.25.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.28%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 earnings per share. On average, research analysts predict that Albany International Corp. will post 3.12 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is 32.50%.

Institutional Investors Weigh In On Albany International

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Albany International by 13.7% during the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock worth $2,411,000 after buying an additional 3,104 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 266 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Albany International during the first quarter worth about $128,000. GSA Capital Partners LLP raised its stake in Albany International by 201.8% during the first quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock worth $924,000 after purchasing an additional 6,605 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in Albany International by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock worth $2,553,000 after purchasing an additional 358 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.