Albany International Corp. (NYSE:AIN) Short Interest Down 6.1% in September

Albany International Corp. (NYSE:AIN) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 307,400 shares, a decline of 6.1% from the August 31st total of 327,300 shares. Based on an average trading volume of 155,400 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of 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 buying an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after buying an additional 52,909 shares during the last quarter. William Blair Investment Management LLC raised its position 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 buying an additional 24,430 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings 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 acquiring an additional 13,581 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

AIN has been the topic of several research analyst reports. Truist Financial dropped their price objective on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Performance

AIN stock opened at $87.19 on Monday. The stock’s fifty day moving average price is $88.68 and its 200-day moving average price is $88.13. The company has a market cap of $2.72 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share 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 company had revenue of $331.99 million for the quarter, compared to analysts’ expectations of $318.17 million. During the same quarter last year, the firm posted $0.90 earnings per share. Albany International’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities analysts forecast that Albany International will post 3.71 earnings per share for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. Albany International’s payout ratio is 29.21%.

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.