Albany International (NYSE:AIN) Hits New 12-Month Low – Should You Sell?

Albany International Corp. (NYSE:AIN)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $64.63 and last traded at $65.27, with a volume of 96737 shares trading hands. The stock had previously closed at $70.94.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. 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. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Bank of America cut their price objective on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday, March 25th. Finally, StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Albany International Stock Down 8.0 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 20.40 and a beta of 1.37. The firm’s fifty day moving average is $76.77 and its 200-day moving average is $78.84.

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

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio is presently 38.71%.

Institutional Investors Weigh In On Albany International

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Albany International by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after purchasing an additional 12,687 shares during the period. Earnest Partners LLC lifted its position in shares of Albany International by 3.9% in the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker’s stock worth $211,209,000 after buying an additional 99,149 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Albany International by 3,050.6% in the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock worth $109,075,000 after buying an additional 1,320,654 shares during the last quarter. State Street Corp boosted its holdings in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock valued at $108,544,000 after buying an additional 36,944 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Albany International by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock valued at $88,217,000 after buying an additional 9,226 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

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.