Albany International (NYSE:AIN) PT Lowered to $91.00

Albany International (NYSE:AIN) had its price objective cut by Truist Financial from $101.00 to $91.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Separately, StockNews.com raised Albany International from a hold rating to a buy rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $89.50.

Albany International Price Performance

AIN opened at $77.72 on Thursday. The firm has a market cap of $2.42 billion, a PE ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 1.25. The stock has a 50-day moving average price of $87.95 and a 200-day moving average price of $87.80. Albany International has a 1 year low of $77.07 and a 1 year high of $99.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Sell-side analysts predict that Albany International will post 3.71 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.34%. Albany International’s dividend payout ratio (DPR) is 29.21%.

Hedge Funds Weigh In On Albany International

Institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. increased its holdings in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after buying an additional 266 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Hilltop National Bank raised its holdings in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares during the period. TFO Wealth Partners LLC lifted its position in Albany International by 109,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after purchasing an additional 1,091 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Albany International during the first quarter valued at about $102,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

About Albany International

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.