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AIN Albany International

Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries. The Engineered Composites segment provides composite structures to customers in the commercial and defense aerospace industries. The firm offers regular fabric, consultative, diagnostic, and project specific services. The company was founded on March 8, 1895 and is headquartered in Rochester, NH.

Company profile

Ticker
AIN
Exchange
Website
CEO
A. William Higgins
Employees
Incorporated
Location
Fiscal year end
Xerium ...
SEC CIK
IRS number
140462060

AIN stock data

(
)

Calendar

25 Feb 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Nolan Stephen M Class A Common Stock Sale back to company Dispose D No No 74.22 1,426 105.84K 0
1 Apr 21 Nolan Stephen M Class A Common Stock Option exercise Aquire M No No 0 1,426 0 1,426
1 Apr 21 Nolan Stephen M RSU Class A Common Stock Option exercise Dispose M No No 0 1,426 0 1,426
1 Mar 21 Alice McCarvill Class A Common Stock Sale back to company Dispose D No No 74.22 752 55.81K 0
1 Mar 21 Alice McCarvill Class A Common Stock Option exercise Aquire M No No 0 752 0 752
1 Mar 21 Alice McCarvill Phantom Stock Units Class A Common Stock Option exercise Dispose M No No 0 752 0 1,502
1 Mar 21 Gaug Joseph M Class A Common Stock Sale back to company Dispose D No No 74.22 463 34.36K 0
1 Mar 21 Gaug Joseph M Class A Common Stock Option exercise Aquire M No No 0 463 0 463
1 Mar 21 Gaug Joseph M Class A Common Stock Sale back to company Dispose D No No 74.22 461 34.22K 0
1 Mar 21 Gaug Joseph M Class A Common Stock Option exercise Aquire M No No 0 461 0 461

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

98.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 215 205 +4.9%
Opened positions 34 30 +13.3%
Closed positions 24 29 -17.2%
Increased positions 75 72 +4.2%
Reduced positions 76 73 +4.1%
13F shares
Current Prev Q Change
Total value 3.2B 1.48B +115.7%
Total shares 30.23M 29.96M +0.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 4.6M $337.9M +5.0%
Vanguard 3.24M $237.84M +0.7%
Earnest Partners 2.39M $175.25M +25.0%
Kayne Anderson Rudnick Investment Management 1.62M $118.75M +6.7%
Wellington Management 1.2M $87.98M -4.2%
Dimensional Fund Advisors 1.19M $87.63M -1.2%
BAC Bank Of America 1.05M $77.35M +247.3%
STT State Street 947.24K $69.74M +2.8%
PFG Principal Financial Group Inc - Registered Shares 879.68K $64.59M -6.8%
Aristotle Capital Boston 751.69K $55.19M -5.2%
Largest transactions
Shares Bought/sold Change
BAC Bank Of America 1.05M +750.19K +247.3%
Earnest Partners 2.39M +477.29K +25.0%
Norges Bank 387.89K +387.89K NEW
FHI Federated Hermes 23.82K -387.78K -94.2%
TimesSquare Capital Management 607.05K -232.56K -27.7%
BLK Blackrock 4.6M +219.69K +5.0%
DB Deutsche Bank AG - Registered Shares 24.37K -202.8K -89.3%
GS Goldman Sachs 96.87K -152.85K -61.2%
Renaissance Technologies 216.4K -142.2K -39.7%
NWQ Investment Management 0 -136.07K EXIT

Financial report summary

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Risks
  • A number of industry factors have had, and in future periods could have, an adverse impact on sales, profitability and cash flow in the Company’s MC and AEC segments
  • The long-term organic growth prospects of AEC are subject to a number of risks
  • AEC is subject to significant risks related to the potential manufacture and sale of defective or non-conforming products
  • Deterioration of global economic conditions could have an adverse impact on the Company’s business and results of operations
  • The Company may experience supply constraints due to a limited number of suppliers of certain raw materials and equipment
  • Some of the Company’s competitors in the MC segment have the capability to make and sell paper machines and papermaking equipment as well as other engineered fabrics
  • Conditions in the paper industry have required, and could further require, the Company to reorganize its operations, which could result in significant expense and could pose risks to the Company’s operations
  • Natural disasters at one or more of our facilities could make it difficult for us to meet our supply obligations to our customers
  • Inflation as a result of changes in prices of commodities and labor costs may adversely impact our financial results of operations
  • The Company’s insurance coverage may be inadequate to cover other significant risk exposures
  • The Company has significant manufacturing operations outside of the U.S., which could involve many uncertainties
  • AEC is subject to significant financial risk related to potential quality escapes that could cause customer recalls, or production shortfalls that could cause delays in customer deliveries
  • Long-term supply contracts in our Albany Engineered Composites segment pose certain risks
  • AEC derives a significant portion of its revenue from contracts with the U.S. government, which are subject to unique risks
  • The loss of one or more major customers could have a material adverse effect on sales and profitability
  • The Company is increasingly dependent on information technology and our business, systems, assets and infrastructure face certain risks, including cybersecurity and data leakage risks. The failure to prevent attacks on our operational systems or infrastructure could result in disruptions to our businesses, or the loss or disclosure of confidential and proprietary intellectual property or other assets
  • Fluctuations in currency exchange rates could adversely affect the Company’s business, financial condition, and results of operations
  • We have a substantial amount of indebtedness. At December 31, 2020, the Company had outstanding long-term debt of $398 million
  • Changes in actuarial assumptions and differences between actual experience and assumptions could adversely affect our pension and postretirement benefit costs and liabilities
  • The Company is exposed to the risk of increased expense in health-care related costs
  • Changes in or interpretations of tax rules, structures, country profitability mix, and regulations may adversely affect our effective tax rate
  • The Company has substantial deferred tax assets that could become impaired, resulting in a charge to earnings
  • Our business could be adversely affected by adverse outcomes of pending or future tax audits
  • The Company may fail to adequately protect its proprietary technology, which would allow competitors or others to take advantage of its research and development efforts
  • The Company is subject to legal proceedings and legal compliance risks, and has been named as defendant in a large number of suits relating to the actual or alleged exposure to asbestos-containing products
  • The Company is subject to laws and regulations worldwide, changes to which could increase our costs and have a material adverse effect on our financial condition or results of operations
  • The Standish Family continues to have considerable influence over the management and affairs of the Company and matters requiring stockholder approval
  • Certain provisions of our Certificate of Incorporation, our Bylaws and Delaware law could hinder, delay or prevent a change in control of us that you might consider favorable, which could also adversely affect the price of our Class A Common Stock
  • We may not pay cash dividends on our Common Stock
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline
  • Future sales of shares by us or our existing stockholders could cause our stock price to decline
Management Discussion
  • •Changes in currency translation rates had the effect of increasing 2020 Net sales by $2.9 million (0.3% of Net sales) compared to 2019. That currency translation effect was principally due to the stronger euro in 2020, as compared to 2019.
  • •Consolidated Net sales decreased 14.8%.
  • •Net sales in MC decreased 5.1% compared to 2019, principally due to decreases in sales for publication grades.
Content analysis
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