Albany International Corp. (NYSE:AIN) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 510,400 shares, a drop of 11.7% from the June 30th total of 578,100 shares. Based on an average trading volume of 254,300 shares, the short-interest ratio is currently 2.0 days. Approximately 1.7% of the shares of the company are short sold.

Several hedge funds and other institutional investors have recently bought and sold shares of AIN. Lapides Asset Management LLC purchased a new stake in shares of Albany International in the 2nd quarter worth $1,209,000. ARP Americas LP purchased a new stake in shares of Albany International in the 2nd quarter worth $222,000. Raymond James & Associates increased its stake in shares of Albany International by 20.6% in the 2nd quarter. Raymond James & Associates now owns 79,150 shares of the textile maker’s stock worth $4,647,000 after purchasing an additional 13,535 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Albany International by 62.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,745 shares of the textile maker’s stock worth $220,000 after purchasing an additional 1,438 shares in the last quarter. Finally, FDx Advisors Inc. purchased a new stake in shares of Albany International in the 2nd quarter worth $213,000. 92.77% of the stock is currently owned by institutional investors.

Shares of NYSE AIN traded down $0.09 during trading hours on Friday, hitting $48.08. The company’s stock had a trading volume of 443,259 shares, compared to its average volume of 346,144. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.13 and a current ratio of 3.67. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 14.06 and a beta of 1.55. Albany International has a 12 month low of $30.46 and a 12 month high of $92.04. The business has a 50-day simple moving average of $54.81 and a 200-day simple moving average of $58.10.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, July 29th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.38. The company had revenue of $225.99 million for the quarter, compared to analysts’ expectations of $221.28 million. Albany International had a return on equity of 18.98% and a net margin of 11.17%. On average, equities research analysts forecast that Albany International will post 2.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 5th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.76 annualized dividend and a dividend yield of 1.58%. Albany International’s payout ratio is presently 18.49%.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Albany International from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Cowen reissued a “hold” rating and set a $57.00 price objective on shares of Albany International in a research note on Wednesday. Alembic Global Advisors raised Albany International to a “buy” rating and set a $91.00 price objective for the company in a research note on Tuesday, June 9th. Sidoti lowered Albany International from a “buy” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Thursday, June 4th. Finally, Bank of America began coverage on Albany International in a research note on Wednesday, April 15th. They set a “buy” rating and a $65.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Albany International has a consensus rating of “Hold” and an average price target of $70.29.

Albany International Company Profile

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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