Albany International (NYSE:AIN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Albany International Corporation (NYSE:AIN) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $56.70 and traded as high as $58.22. Albany International shares last traded at $57.3140, with a volume of 252,562 shares.

Analyst Upgrades and Downgrades

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

Albany International Trading Down 0.4%

The company has a quick ratio of 1.84, a current ratio of 2.34 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $51.58 and its two-hundred day moving average price is $56.70. The firm has a market cap of $1.64 billion, a PE ratio of -29.54, a P/E/G ratio of 2.32 and a beta of 1.21.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.11). Albany International had a positive return on equity of 8.98% and a negative net margin of 4.66%.The firm had revenue of $307.44 million for the quarter, compared to analysts’ expectations of $303.41 million. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Tuesday, December 16th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Albany International’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, December 16th. Albany International’s dividend payout ratio (DPR) is presently -57.73%.

Insiders Place Their Bets

In other Albany International news, CEO Gunnar Kleveland acquired 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $42.04 per share, with a total value of $96,692.00. Following the completion of the acquisition, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at approximately $836,385.80. The trade was a 13.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Albany International

Several institutional investors have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Albany International by 39.3% during the 4th quarter. CWM LLC now owns 712 shares of the textile maker’s stock worth $36,000 after purchasing an additional 201 shares during the period. Deprince Race & Zollo Inc. acquired a new position in Albany International during the fourth quarter worth about $18,507,000. Massachusetts Financial Services Co. MA increased its holdings in Albany International by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 624,708 shares of the textile maker’s stock valued at $31,673,000 after buying an additional 86,551 shares in the last quarter. SG Americas Securities LLC increased its holdings in Albany International by 287.0% in the fourth quarter. SG Americas Securities LLC now owns 31,692 shares of the textile maker’s stock valued at $1,607,000 after buying an additional 23,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Albany International during the 4th quarter valued at approximately $203,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.