Albany International Corporation (NYSE:AIN) Short Interest Update

Albany International Corporation (NYSE:AIN) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 688,731 shares, a decline of 16.6% from the January 15th total of 825,612 shares. Based on an average daily volume of 293,055 shares, the short-interest ratio is currently 2.4 days. Approximately 2.4% of the shares of the company are sold short. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 293,055 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On Albany International

Large investors have recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker’s stock worth $36,000 after buying an additional 201 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Albany International by 227.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock worth $38,000 after acquiring an additional 375 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 174 shares during the period. Osaic Holdings Inc. increased its stake in shares of Albany International by 42.3% in 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 bought a new position in Albany International in the 3rd quarter worth $66,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 1.2%

AIN traded up $0.70 during trading on Monday, reaching $57.98. The stock had a trading volume of 183,392 shares, compared to its average volume of 246,923. The company has a current ratio of 2.34, a quick ratio of 1.84 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -29.88, a P/E/G ratio of 2.33 and a beta of 1.21. The stock’s 50 day moving average is $54.62 and its two-hundred day moving average is $55.39. Albany International has a one year low of $41.15 and a one year high of $83.65.

Albany International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Tuesday, December 16th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. This is a positive change from Albany International’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, December 16th. Albany International’s dividend payout ratio is presently -57.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIN shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Albany International from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Zacks Research cut shares of Albany International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, Truist Financial set a $55.00 target price on shares of Albany International in a research note on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Albany International has a consensus rating of “Reduce” and an average price target of $61.50.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.