Albany International (NYSE:AIN) Sets New 52-Week Low – Here’s Why

by · The Markets Daily

Albany International Corp. (NYSE:AIN – Get Free Report)’s stock price reached a new 52-week low on Thursday . The stock 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.

Analysts Set New Price Targets

Several equities analysts recently commented on AIN shares. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen dropped their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Truist Financial decreased their target price on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. 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. According to MarketBeat, Albany International presently has an average rating of “Hold” and an average target price of $89.50.

Read Our Latest Stock Analysis on AIN

Albany International Stock Down 4.2 %

The business’s fifty day moving average price is $82.16 and its two-hundred day moving average price is $85.48. 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 firm has a market capitalization of $2.12 billion, a P/E ratio of 20.19, a PEG ratio of 2.39 and a beta of 1.25.

Albany International (NYSE:AIN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter last year, the firm earned $1.02 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Albany International Corp. will post 3.11 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company 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. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.53%. Albany International’s dividend payout ratio (DPR) is 29.71%.

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently bought and sold shares of AIN. Vanguard Group Inc. lifted its holdings in shares of Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after buying an additional 11,052 shares during the period. Earnest Partners LLC boosted its position in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after purchasing an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Albany International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after purchasing an additional 52,909 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Albany International by 3.5% during the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock valued at $61,335,000 after purchasing an additional 24,430 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Albany International by 2.0% in the 2nd quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock valued at $59,822,000 after purchasing an additional 13,581 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

About Albany International

(Get Free Report)

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.

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