Albany International Corp. (NYSE:AIN) Short Interest Update

Albany International Corp. (NYSE:AIN - Get Free Report) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 457,100 shares, a decrease of 13.2% from the February 13th total of 526,500 shares. Currently, 1.5% of the company's shares are sold short. Based on an average daily volume of 194,700 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several analysts have commented on AIN shares. TD Cowen upgraded Albany International to a "strong-buy" rating in a report on Thursday, December 19th. StockNews.com cut shares of Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Truist Financial lifted their price target 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. Finally, Robert W. Baird dropped their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Albany International presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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Hedge Funds Weigh In On Albany International

A number of institutional investors and hedge funds have recently bought and sold shares of AIN. Quarry LP raised its stake in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker's stock valued at $43,000 after purchasing an additional 402 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Albany International during the 4th quarter worth $40,000. Smartleaf Asset Management LLC lifted its holdings in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after buying an additional 503 shares in the last quarter. Sterling Capital Management LLC boosted its position in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Albany International during the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Trading Down 3.8 %

AIN traded down $2.77 during trading on Friday, hitting $70.70. 846,903 shares of the company's stock were exchanged, compared to its average volume of 181,942. Albany International has a 1 year low of $67.39 and a 1 year high of $96.49. The stock has a 50 day moving average price of $78.32 and a 200 day moving average price of $79.57. The firm has a market cap of $2.18 billion, a P/E ratio of 22.09 and a beta of 1.37. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $286.91 million for the quarter, compared to analysts' expectations of $299.52 million. As a group, analysts expect that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. Albany International's payout ratio is currently 38.71%.

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.