Albany International Corp. (NYSE:AIN) Receives $89.50 Consensus PT from Analysts

Shares of Albany International Corp. (NYSE:AIN) have been given a consensus recommendation of “Hold” by the four brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $89.50.

A number of equities research analysts have issued reports on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial cut their price target on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen cut their price target on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Albany International by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Albany International by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after purchasing an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Albany International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after purchasing an additional 52,909 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Albany International by 3.5% during the 2nd quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock valued at $61,335,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Albany International by 2.0% during the 2nd quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock valued at $59,822,000 after purchasing an additional 13,581 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 1.2 %

NYSE:AIN opened at $74.51 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25. Albany International has a one year low of $69.19 and a one year high of $99.41. The business has a fifty day moving average price of $84.79 and a 200-day moving average price of $86.43.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. Sell-side analysts forecast that Albany International will post 3.11 EPS for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

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.