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

Albany International Corp. (NYSE:AIN) was the recipient of a large growth in short interest in the month of 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 trading volume of 170,600 shares, the short-interest ratio is presently 1.9 days.

Albany International Trading Down 1.3 %

Shares of AIN stock traded down $0.92 on Wednesday, hitting $70.75. The stock had a trading volume of 185,565 shares, compared to its average volume of 154,253. Albany International has a twelve month low of $69.19 and a twelve month high of $99.41. The firm has a market cap of $2.21 billion, a P/E ratio of 20.13, a PEG ratio of 2.39 and a beta of 1.25. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $82.53 and a two-hundred day moving average price of $85.58.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (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 firm had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same period last year, the firm earned $0.90 EPS. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, analysts forecast that Albany International will post 3.11 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors 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 1.47%. The ex-dividend date was Tuesday, September 3rd. Albany International’s payout ratio is presently 29.21%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Truist Financial lowered their target price on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen lowered their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of “Hold” and a consensus price target of $89.50.

Hedge Funds Weigh In On Albany International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. boosted its stake in Albany International by 16.4% in the 3rd quarter. QRG Capital Management Inc. now owns 4,025 shares of the textile maker’s stock worth $358,000 after purchasing an additional 567 shares during the period. Assenagon Asset Management S.A. lifted its position in Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after buying an additional 60,812 shares in the last quarter. Blue Trust Inc. lifted its position in Albany International by 20.2% during the 3rd quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker’s stock worth $274,000 after buying an additional 545 shares in the last quarter. Creative Planning lifted its position in Albany International by 18.4% during the 3rd quarter. Creative Planning now owns 5,941 shares of the textile maker’s stock worth $528,000 after buying an additional 923 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in Albany International by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 4,670 shares of the textile maker’s stock worth $415,000 after buying an additional 520 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.