Albany International (NYSE:AIN) Reaches New 12-Month High – Here’s Why

Albany International Corporation (NYSE:AIN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.95 and last traded at $73.7950, with a volume of 10778 shares changing hands. The stock had previously closed at $71.96.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Zacks Research raised shares of Albany International from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a report on Wednesday. Wall Street Zen downgraded Albany International from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Truist Financial increased their target price on Albany International from $55.00 to $61.00 and gave the stock a “hold” rating in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $62.33.

Albany International Trading Up 1.5%

The company has a current ratio of 2.20, a quick ratio of 1.88 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -37.34, a P/E/G ratio of 3.20 and a beta of 1.20. The firm’s 50-day moving average is $63.93 and its 200 day moving average is $58.10.

Albany International (NYSE:AIN) last announced its earnings results on Thursday, April 30th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. Albany International had a positive return on equity of 9.44% and a negative net margin of 4.93%.The business had revenue of $311.33 million during the quarter, compared to analyst estimates of $281.00 million. During the same period last year, the company earned $0.73 EPS. Albany International’s revenue for the quarter was up 7.8% compared to the same quarter last year. Albany International has set its Q2 2026 guidance at 0.700-0.800 EPS. On average, equities analysts predict that Albany International Corporation will post 2.79 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, June 5th. Albany International’s payout ratio is presently -54.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in shares of Albany International by 11,101.8% in the 3rd 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 period. Gamco Investors INC. ET AL grew its stake in Albany International by 199.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker’s stock valued at $33,655,000 after buying an additional 429,561 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in Albany International during the 4th quarter valued at $18,507,000. Invenomic Capital Management LP bought a new stake in Albany International during the 3rd quarter valued at $17,269,000. Finally, Millennium Management LLC lifted its position in shares of 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 acquiring an additional 287,200 shares in the last quarter. 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.