Albany International (NYSE:AIN) Reaches New 1-Year Low – What’s Next?

Albany International Corporation (NYSE:AIN)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $41.15 and last traded at $42.3670, with a volume of 1070905 shares trading hands. The stock had previously closed at $41.42.

Analyst Ratings Changes

Several research firms have recently commented on AIN. Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. upped their price objective on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Robert W. Baird cut shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Thursday, July 31st. Baird R W downgraded shares of Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Albany International in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.25.

Albany International Stock Up 2.3%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The company has a market capitalization of $1.22 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39. The firm’s 50-day simple moving average is $54.62 and its 200 day simple moving average is $62.28.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $239.92 million for the quarter. As a group, equities research analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s dividend payout ratio (DPR) is presently -55.67%.

Insider Transactions at Albany International

In other news, CEO Gunnar Kleveland bought 2,300 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $42.04 per share, for a total transaction of $96,692.00. Following the completion of the transaction, the chief executive officer owned 19,895 shares in the company, valued at $836,385.80. This trade represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group grew its stake in Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 381 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Albany International by 227.3% in the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 174 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after purchasing an additional 270 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Albany International during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

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.