Albany International (NYSE:AIN) Sets New 1-Year Low - Time to Sell?

Albany International Corp. (NYSE:AIN - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $64.63 and last traded at $65.27, with a volume of 96737 shares traded. The stock had previously closed at $70.94.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIN. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. TD Cowen raised Albany International to a "strong-buy" rating in a report on Thursday, December 19th. Truist Financial upped their price target on Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Robert W. Baird lowered their price objective 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. Finally, Bank of America dropped their target price on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Albany International has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Albany International Price Performance

The company has a market cap of $1.85 billion, a P/E ratio of 18.69 and a beta of 1.29. The stock has a 50-day simple moving average of $74.84 and a 200 day simple moving average of $77.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

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

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio (DPR) is presently 38.71%.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Albany International by 7,898.3% in the 1st quarter. GAMMA Investing LLC now owns 55,508 shares of the textile maker's stock worth $3,832,000 after buying an additional 54,814 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Albany International in the fourth quarter valued at $213,000. Public Employees Retirement System of Ohio acquired a new position in Albany International during the fourth quarter worth $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Albany International by 20.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,640 shares of the textile maker's stock valued at $4,450,000 after acquiring an additional 9,492 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in shares of Albany International by 88.9% in the 4th quarter. Voloridge Investment Management LLC now owns 105,991 shares of the textile maker's stock worth $8,476,000 after purchasing an additional 49,873 shares during the last quarter. 97.37% of the stock is 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.