Albany International Corporation (NYSE:AIN) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Albany International Trading Up 1.2%

Shares of AIN traded up $0.70 during midday trading on Monday, hitting $57.98. The stock had a trading volume of 183,392 shares, compared to its average volume of 246,923. Albany International has a 1 year low of $41.15 and a 1 year high of $83.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.34 and a quick ratio of 1.84. The stock’s 50 day moving average is $54.62 and its 200 day moving average is $55.39. The firm has a market cap of $1.66 billion, a PE ratio of -29.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21.

Albany International Increases Dividend

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

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of Albany International by 7.5% in the first quarter. Royal Bank of Canada now owns 15,590 shares of the textile maker’s stock worth $1,076,000 after buying an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Albany International by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,569 shares of the textile maker’s stock worth $1,282,000 after acquiring an additional 807 shares during the period. Millennium Management LLC grew its stake in Albany International by 464.4% during the 1st quarter. Millennium Management LLC now owns 91,934 shares of the textile maker’s stock valued at $6,347,000 after purchasing an additional 75,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Albany International by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,199 shares of the textile maker’s stock valued at $4,087,000 after purchasing an additional 3,559 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Albany International during the first quarter worth about $7,468,000. Institutional investors own 97.37% of the company’s stock.

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.