Albany International (NYSE:AIN) Hits New 52-Week High - Here's What Happened

Key Points

• Albany International stock hit a new 52-week high on Tuesday, trading as high as $76.60 and last changing hands around $76.73.
• Recent analyst action has been mixed, but Wall Street Zen upgraded the stock to buy while Truist raised its price target to $61; overall, the consensus rating remains Reduce with a target of $62.33.
• The company beat first-quarter earnings and revenue estimates, reported quarterly revenue growth of 7.8%, and recently paid a $0.28 quarterly dividend that annualizes to a 1.5% yield.

Albany International Corporation (NYSE:AIN - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $76.60 and last traded at $76.7290, with a volume of 29374 shares trading hands. The stock had previously closed at $75.06.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AIN shares. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Albany International in a research report on Wednesday, June 24th. Finally, Truist Financial boosted their price objective on Albany International from $55.00 to $61.00 and gave the stock a "hold" rating in a research note 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, the company presently has an average rating of "Reduce" and a consensus target price of $62.33.

Albany International Price Performance

The company has a market cap of $2.18 billion, a price-to-earnings ratio of -37.65, a P/E/G ratio of 3.18 and a beta of 1.17. The company's 50-day simple moving average is $68.96 and its 200-day simple moving average is $60.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.20 and a quick ratio of 1.88.

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

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Friday, June 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, June 5th. Albany International's dividend payout ratio is presently -54.90%.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position 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 valued at $32,324,000 after purchasing an additional 643,018 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Albany International by 199.8% during the first quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker's stock worth $33,655,000 after buying an additional 429,561 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Albany International during the fourth quarter worth approximately $18,507,000. Millennium Management LLC increased its stake in shares of Albany International by 1,078.5% in the third quarter. Millennium Management LLC now owns 313,830 shares of the textile maker's stock worth $16,727,000 after buying an additional 287,200 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Albany International by 1,809.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 216,122 shares of the textile maker's stock worth $11,519,000 after buying an additional 204,801 shares during the last quarter. 97.37% of the stock is 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.

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