Albany International (NYSE:AIN) Sets New 52-Week Low – Time to Sell?

Albany International Corp. (NYSE:AIN)’s stock 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 trading hands. The stock had previously closed at $70.75.

Analyst Upgrades and Downgrades

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

Albany International Stock Performance

The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $82.16 and a two-hundred day moving average price of $85.48. The firm has a market cap of $2.12 billion, a PE ratio of 20.19, a P/E/G ratio of 2.39 and a beta of 1.25.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. Albany International’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Research analysts forecast that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 29.71%.

Institutional Investors Weigh In On Albany International

Several hedge funds and other institutional investors have recently bought and sold shares of AIN. Whittier Trust Co. lifted its stake in shares of Albany International by 94.7% in the 1st 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 last quarter. GAMMA Investing LLC boosted its stake in Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares during the period. Hilltop National Bank raised its stake in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 134 shares during the period. SG Americas Securities LLC acquired a new position in shares of Albany International in the 1st quarter worth approximately $102,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Albany International during the 1st quarter worth approximately $128,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.