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

Shares of Albany International Corporation (NYSE:AIN) hit 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.

Analysts Set New Price Targets

Several brokerages have commented on AIN. Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a research report on Friday, March 27th. Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Truist Financial increased their target price on Albany International from $55.00 to $61.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, Wall Street Zen cut Albany International from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Albany International presently has a consensus rating of “Reduce” and an average price target of $62.33.

Albany International Price Performance

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 company has a fifty day moving average price of $63.21 and a two-hundred day moving average price of $57.80. The firm has a market cap of $2.12 billion, a P/E ratio of -36.72, a PEG ratio of 3.00 and a beta of 1.20.

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

Albany International Announces Dividend

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

Institutional Investors Weigh In On Albany International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Albany International by 11,101.8% in the 3rd quarter. Franklin Resources Inc. now owns 648,810 shares of the textile maker’s stock valued at $32,324,000 after acquiring an additional 643,018 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Albany International by 199.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker’s stock worth $33,655,000 after purchasing an additional 429,561 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Albany International in the 4th quarter valued at about $18,507,000. Invenomic Capital Management LP acquired a new stake in shares of Albany International in the 3rd quarter valued at about $17,269,000. Finally, Millennium Management LLC raised its stake in shares of Albany International by 1,078.5% in the 3rd quarter. Millennium Management LLC now owns 313,830 shares of the textile maker’s stock valued at $16,727,000 after purchasing an additional 287,200 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.