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
Sector
Industry (SIC)
Xerium ...
SEC CIK
Corporate docs
IRS number
140462060
AIN stock data
()
News
Understanding Albany International's Ex-Dividend Date
17 Mar 21
Benzinga's Top Ratings Upgrades, Downgrades For March 8, 2021
8 Mar 21
P/E Ratio Insights for Albany Intl
8 Mar 21
ROCE Insights For Albany International
8 Mar 21
B of A Securities Downgrades Albany Intl to Neutral, Announces $90 Price Target
8 Mar 21
Press releases
Albany International Announces Earnings Release Date
6 Apr 21
Sidoti Virtual Investor Conference
23 Mar 21
Albany International to Present at Sidoti Spring 2021 Virtual Conference
18 Mar 21
Albany International Declares Dividend
19 Feb 21
Albany International Reports Fourth-Quarter 2020 Results
10 Feb 21
Calendar
25 Feb 21
13 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Recent insider trades
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 |
Institutional ownership Q4 2020
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 |
---|---|
Total holders | 215 |
Opened positions | 34 |
Closed positions | 24 |
Increased positions | 75 |
Reduced positions | 76 |
13F shares |
Current |
---|---|
Total value | 3.2B |
Total shares | 30.23M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 4.6M | $337.9M |
Vanguard | 3.24M | $237.84M |
Earnest Partners | 2.39M | $175.25M |
Kayne Anderson Rudnick Investment Management | 1.62M | $118.75M |
Wellington Management | 1.2M | $87.98M |
Dimensional Fund Advisors | 1.19M | $87.63M |
BAC Bank Of America | 1.05M | $77.35M |
STT State Street | 947.24K | $69.74M |
PFG Principal Financial Group Inc - Registered Shares | 879.68K | $64.59M |
Aristotle Capital Boston | 751.69K | $55.19M |
Financial report summary
?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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H.S. freshman Avg
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New words:
began, behavioral, burden, carryover, confidence, construction, dedicated, demographic, detrimental, difficulty, DOD, ease, emotionally, Enerpac, enginesComposite, entirety, history, inquired, IRS, lifetime, linked, loan, MexicoSalt, overarching, pandemic, passenger, PC, people, peso, preceding, Presidential, promote, pulpEngineered, rebate, remote, repay, retroactively, rewarding, safe, scenario, shut, study, subpart, suggest, timeframe, unabsorbed, unified, wording
Removed:
absent, Actuant, agree, amounting, assured, bad, box, Christine, controlled, Cozzolino, decided, discontinuation, exact, existed, footnote, force, fracking, Gulfstream, implementation, improved, ineffective, initiative, intrinsic, Involvement, Jarrault, John, Jr, legislation, licensor, listed, mandatory, medium, NYSE, Olivier, omnova, opening, outflow, overcapacity, persuasive, prepared, prospective, ramp, recovery, reform, remediate, remediated, rental, reserve, revised, RISI, scope, security, shareholder, shown, Silva, stream, title, twelve, wing
Financial reports
10-K
2020 FY
Annual report
25 Feb 21
10-Q
2020 Q3
Quarterly report
29 Oct 20
10-Q
2020 Q2
Quarterly report
30 Jul 20
10-Q
2020 Q1
Quarterly report
30 Apr 20
10-K
2019 FY
Annual report
28 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
31 Jul 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
14 Mar 19
NT 10-K
Notice of late annual filing
1 Mar 19
Current reports
8-K
Departure of Directors or Certain Officers
25 Feb 21
8-K
Results of Operations and Financial Condition
10 Feb 21
8-K
Departure of Directors or Certain Officers
21 Jan 21
8-K
Departure of Directors or Certain Officers
10 Dec 20
8-K
Entry into a Material Definitive Agreement
28 Oct 20
8-K
Results of Operations and Financial Condition
29 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
19 May 20
8-K
Departure of Directors or Certain Officers
18 May 20
8-K
Results of Operations and Financial Condition
29 Apr 20
8-K/A
Albany International Provides COVID-19 Business Update
9 Apr 20
Registration and prospectus
424B7
Prospectus with selling stockholder info
3 Jun 19
424B7
Prospectus with selling stockholder info
28 May 19
S-3ASR
Automatic shelf registration
28 May 19
S-8 POS
Registration of securities for employees (post-effective amendment)
14 May 18
S-8
Registration of securities for employees
18 May 17
S-8
Registration of securities for employees
18 May 17
S-8
Registration of securities for employees
14 Apr 14
S-8
Registration of securities for employees
21 Aug 13
S-8
Registration of securities for employees
28 Feb 07
25
Voluntary exchange delisting
25 Feb 07
Proxies
DEF 14A
Definitive proxy
31 Mar 21
DEF 14A
Definitive proxy
31 Mar 20
DEF 14A
Definitive proxy
27 Mar 19
DEF 14A
Definitive proxy
27 Mar 18
DEF 14A
Definitive proxy
28 Mar 17
DEF 14A
Definitive proxy
29 Mar 16
DEFA14A
Additional proxy soliciting materials
7 Apr 15
DEF 14A
Definitive proxy
6 Apr 15
PRE 14A
Preliminary proxy
25 Mar 15
DEF 14A
Definitive proxy
1 Apr 14
Other
SD
Conflict minerals disclosure
29 May 20
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
31 May 18
UPLOAD
Letter from SEC
28 Jan 18
CORRESP
Correspondence with SEC
15 Jan 18
CORRESP
Correspondence with SEC
18 Dec 17
UPLOAD
Letter from SEC
17 Dec 17
SD
Conflict minerals disclosure
30 May 17
UPLOAD
Letter from SEC
28 Feb 17
CORRESP
Correspondence with SEC
26 Feb 17
Ownership
4
ALBANY INTERNATIONAL / Stephen M Nolan ownership change
1 Apr 21
4
ALBANY INTERNATIONAL / Daniel A Halftermeyer ownership change
3 Mar 21
4
ALBANY INTERNATIONAL / Robert Alan Hansen ownership change
2 Mar 21
4
ALBANY INTERNATIONAL / David M Pawlick ownership change
2 Mar 21
4
ALBANY INTERNATIONAL / Joseph M Gaug ownership change
2 Mar 21
4
ALBANY INTERNATIONAL / Alice McCarvill ownership change
2 Mar 21
4/A
ALBANY INTERNATIONAL / Joseph M Gaug ownership change
25 Feb 21
4
ALBANY INTERNATIONAL / Robert Alan Hansen ownership change
24 Feb 21
4
ALBANY INTERNATIONAL / David M Pawlick ownership change
22 Feb 21
4
ALBANY INTERNATIONAL / Robert Alan Hansen ownership change
22 Feb 21
Patents
GRANT
Utility
Multilayer belt for creping and structuring in a tissue making process
30 Mar 21
A multilayer belt structure that can be used for creping or structuring a cellulosic web in a tissue making process.
APP
Utility
Press Fabric for a Textured Product
11 Mar 21
Disclosed is a press fabric and related method to impart a texture to a cellulose product by having macro-voids in a complementary pattern on a sheet-contact side surface of the press fabric.
APP
Utility
Method for Producing a Positive-Locking Load Application for Rod-Shaped Fiber Composite Structures, and the Design Thereof
11 Mar 21
Inventors: Ralph Funck, Martin Welsch
GRANT
Utility
Industrial fabric comprising an extruded mesh and method of making thereof
2 Mar 21
A structure for use in industrial fabrics such as paper machine clothing and engineered fabrics.
APP
Utility
Compositions and Methods for Improved Abrasion Resistance of Polymeric Components
28 Jan 21
Described herein are component compositions comprising a blend of a polymer resin together with silica glass beads.
Transcripts
2020 Q4
Earnings call transcript
11 Feb 21
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q2
Earnings call transcript
2 Aug 20
2020 Q1
Earnings call transcript
2 May 20
2019 Q4
Earnings call transcript
11 Feb 20
2019 Q3
Earnings call transcript
2 Nov 19
2019 Q2
Earnings call transcript
3 Aug 19
2019 Q1
Earnings call transcript
4 May 19
2018 Q4
Earnings call transcript
12 Feb 19
2018 Q3
Earnings call transcript
31 Oct 18
Reddit threads
Daily Discussion Thread - March 18th, 2021
18 Mar 21
Daily Discussion Thread - March 17th, 2021
17 Mar 21
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16 Mar 21
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8 Feb 21