Albany International (NYSE:AIN) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Shares of Albany International Corporation (NYSE:AIN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $57.55 and traded as high as $58.59. Albany International shares last traded at $58.3560, with a volume of 233,799 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AIN shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a research report on Monday, December 29th. Zacks Research downgraded shares of Albany International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. raised their target price on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Truist Financial set a $55.00 price target on shares of Albany International in a report on Friday, January 9th. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Albany International presently has an average rating of “Reduce” and a consensus price target of $65.50.

Albany International Trading Up 2.1%

The stock has a market cap of $1.67 billion, a PE ratio of -30.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.84 and a current ratio of 2.34. The company has a 50 day moving average of $49.81 and a two-hundred day moving average of $57.55.

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

Albany International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.28 per share. This is an increase from Albany International’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, December 16th. This represents a $1.12 annualized dividend and a yield of 1.9%. Albany International’s dividend payout ratio (DPR) is presently -57.73%.

Insider Buying and Selling

In other news, CEO Gunnar Kleveland acquired 2,300 shares of Albany International stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $42.04 per share, with a total value of $96,692.00. Following the purchase, the chief executive officer owned 19,895 shares in the company, valued at $836,385.80. This trade represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Albany International

A number of large investors have recently modified their holdings of AIN. SG Americas Securities LLC grew its stake in Albany International by 287.0% during the 4th quarter. SG Americas Securities LLC now owns 31,692 shares of the textile maker’s stock valued at $1,607,000 after acquiring an additional 23,502 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International during the 4th quarter valued at about $203,000. JPMorgan Chase & Co. grew its holdings in shares of Albany International by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 98,806 shares of the textile maker’s stock valued at $5,266,000 after purchasing an additional 23,928 shares during the period. Caxton Associates LLP acquired a new stake in Albany International during the third quarter worth about $1,072,000. Finally, Voloridge Investment Management LLC raised its stake in Albany International by 173.0% during the third quarter. Voloridge Investment Management LLC now owns 162,908 shares of the textile maker’s stock worth $8,683,000 after purchasing an additional 103,231 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.