Albany International Corp. (NYSE:AIN) Receives Average Rating of “Hold” from Analysts

Albany International Corp. (NYSE:AIN) has received a consensus rating of “Hold” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $95.50.

Several research analysts have weighed in on the company. Truist Financial lowered their price objective on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America cut their price objective on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIN. Principal Securities Inc. acquired a new stake in shares of Albany International in the 4th quarter valued at $77,000. Norges Bank bought a new position in Albany International in the fourth quarter valued at about $33,273,000. Clearbridge Investments LLC raised its stake in Albany International by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 598,038 shares of the textile maker’s stock worth $58,739,000 after acquiring an additional 36,254 shares in the last quarter. Corient Private Wealth LLC raised its stake in Albany International by 15.9% during the fourth quarter. Corient Private Wealth LLC now owns 20,643 shares of the textile maker’s stock worth $2,028,000 after acquiring an additional 2,832 shares in the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in shares of Albany International in the fourth quarter worth about $584,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Performance

Shares of NYSE AIN opened at $86.23 on Thursday. Albany International has a 12 month low of $78.20 and a 12 month high of $99.41. The stock has a 50 day moving average of $89.01 and a 200-day moving average of $88.31. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.69 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.36 and a beta of 1.26.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $331.99 million for the quarter, compared to the consensus estimate 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 was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts predict that Albany International will post 3.71 EPS for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Albany International Company Profile

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.