Short Interest in Albany International Corporation (NYSE:AIN) Drops By 16.9%
by Teresa Graham · The Cerbat GemAlbany International Corporation (NYSE:AIN – Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totaling 527,883 shares, a decrease of 16.9% from the March 15th total of 635,473 shares. Based on an average daily volume of 336,594 shares, the short-interest ratio is presently 1.6 days. Approximately 1.9% of the shares of the stock are sold short.
Analysts Set New Price Targets
AIN has been the topic of several recent research reports. Truist Financial set a $55.00 price target on shares of Albany International in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a report on Friday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Albany International from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Finally, Zacks Research raised shares of Albany International from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $61.50.
Check Out Our Latest Stock Report on AIN
Albany International Trading Up 4.3%
Shares of NYSE:AIN traded up $2.38 during trading on Friday, reaching $58.19. The stock had a trading volume of 260,886 shares, compared to its average volume of 248,330. The business has a fifty day moving average price of $55.76 and a 200-day moving average price of $53.98. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.65 billion, a P/E ratio of -28.81, a PEG ratio of 2.28 and a beta of 1.18. Albany International has a fifty-two week low of $41.15 and a fifty-two week high of $73.00.
Albany International (NYSE:AIN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Albany International had a negative net margin of 4.85% and a positive return on equity of 9.64%. The business had revenue of $321.21 million during the quarter, compared to analyst estimates of $292.32 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Albany International has set its Q1 2026 guidance at 0.500-0.600 EPS. As a group, analysts anticipate that Albany International will post 3.23 earnings per share for the current fiscal year.
Albany International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Investors of record on Friday, March 20th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.12 annualized dividend and a yield of 1.9%. Albany International’s dividend payout ratio is -55.45%.
Hedge Funds Weigh In On Albany International
Several institutional investors and hedge funds have recently bought and sold shares of AIN. Franklin Resources Inc. increased its position in Albany International by 11,101.8% during the third quarter. Franklin Resources Inc. now owns 648,810 shares of the textile maker’s stock worth $32,324,000 after purchasing an additional 643,018 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in Albany International during the fourth quarter worth approximately $18,507,000. Invenomic Capital Management LP acquired a new position in Albany International during the third quarter worth approximately $17,269,000. Millennium Management LLC increased its position in Albany International by 1,078.5% during the third quarter. Millennium Management LLC now owns 313,830 shares of the textile maker’s stock worth $16,727,000 after purchasing an additional 287,200 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in Albany International by 1,809.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 216,122 shares of the textile maker’s stock worth $11,519,000 after purchasing an additional 204,801 shares during the last quarter. Institutional investors and hedge funds 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.