Albany International (NYSE:AIN) Hits New 1-Year Low – Should You Sell?

Albany International Corp. (NYSE:AIN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $64.63 and last traded at $65.27, with a volume of 96737 shares trading hands. The stock had previously closed at $70.94.

Analyst Ratings Changes

AIN has been the subject of several research reports. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. TD Cowen raised Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Bank of America cut their target price on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Tuesday, March 25th. Finally, Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Albany International Trading Down 5.5 %

The stock has a market cap of $1.90 billion, a P/E ratio of 19.24 and a beta of 1.37. The company has a 50-day moving average price of $76.07 and a two-hundred day moving average price of $78.58. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. On average, research analysts expect that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be issued a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.75%. Albany International’s payout ratio is 38.71%.

Institutional Investors Weigh In On Albany International

A number of institutional investors and hedge funds have recently modified their holdings of AIN. State Street Corp increased its stake in Albany International by 3.1% in the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after purchasing an additional 36,944 shares during the period. JPMorgan Chase & Co. increased its stake in Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after buying an additional 9,931 shares during the period. Principal Financial Group Inc. lifted its holdings in Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after buying an additional 36,274 shares in the last quarter. Advantage Alpha Capital Partners LP boosted its position in Albany International by 18.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker’s stock valued at $2,252,000 after buying an additional 4,307 shares during the period. Finally, Geode Capital Management LLC grew its stake in Albany International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after acquiring an additional 8,356 shares in the last quarter. 97.37% of the stock is owned by 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.