Albany International (NYSE:AIN) Shares Gap Down - Here's What Happened

Key Points

• Albany International shares plunged: The stock opened at $70.25 after closing at $75.12 and later traded near $65.34.
• Analyst sentiment remains cautious: Although Wall Street Zen upgraded the stock to “buy” and Truist raised its target to $61, the consensus rating is “Reduce” with a $54 target price.
• Quarterly results exceeded expectations: Albany International reported $0.82 in earnings per share versus the $0.74 consensus estimate, while revenue increased 5.8% year over year. The company also maintains a $0.28 quarterly dividend, equal to a 1.7% yield.

Albany International Corporation (NYSE:AIN - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $75.12, but opened at $70.25. Albany International shares last traded at $65.3390, with a volume of 37,960 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AIN shares. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Truist Financial boosted their target price on shares of Albany International from $55.00 to $61.00 and gave the company a "hold" rating in a research report on Friday, June 12th. Finally, Weiss Ratings raised shares of Albany International from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $54.00.

Albany International Price Performance

The firm has a market cap of $1.82 billion, a P/E ratio of -31.47, a PEG ratio of 3.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.20 and a quick ratio of 1.88. The company's 50-day moving average is $71.66 and its two-hundred day moving average is $62.19.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The textile maker reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. Albany International had a negative net margin of 4.93% and a positive return on equity of 9.44%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Albany International has set its Q3 2026 guidance at 0.600-0.700 EPS. Sell-side analysts anticipate that Albany International Corporation will post 2.79 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.7%. Albany International's payout ratio is presently -54.90%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in Albany International by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock worth $49,000 after buying an additional 174 shares during the period. California State Teachers Retirement System increased its position in shares of Albany International by 0.6% during the second quarter. California State Teachers Retirement System now owns 28,783 shares of the textile maker's stock valued at $2,019,000 after buying an additional 179 shares during the period. CWM LLC boosted its position in shares of Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker's stock valued at $36,000 after acquiring an additional 201 shares during the period. GAMMA Investing LLC increased its holdings in Albany International by 25.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,286 shares of the textile maker's stock worth $96,000 after acquiring an additional 260 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Albany International by 42.3% in the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock valued at $64,000 after purchasing an additional 270 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

About Albany International

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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