Albany International Corp. (NYSE:AIN) Receives Average Rating of “Moderate Buy” from Brokerages

Albany International Corp. (NYSE:AIN) has been given a consensus rating of “Moderate Buy” by the four ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $110.50.

A number of equities research analysts recently commented on AIN shares. TheStreet raised Albany International from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down from $105.00) on shares of Albany International in a research report on Thursday, March 28th. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Truist Financial increased their price target on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Albany International during the 3rd quarter worth $29,000. Bessemer Group Inc. increased its holdings in Albany International by 244.8% during the 4th quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock worth $45,000 after purchasing an additional 328 shares during the period. GAMMA Investing LLC purchased a new position in Albany International during the 4th quarter worth $47,000. West Tower Group LLC increased its holdings in Albany International by 1,513.3% during the 4th quarter. West Tower Group LLC now owns 484 shares of the textile maker’s stock worth $48,000 after purchasing an additional 454 shares during the period. Finally, Pinebridge Investments L.P. purchased a new position in shares of Albany International in the 2nd quarter valued at $51,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Trading Down 3.0 %

AIN stock opened at $90.67 on Thursday. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. Albany International has a 1-year low of $78.20 and a 1-year high of $99.41. The business has a 50 day simple moving average of $92.09 and a two-hundred day simple moving average of $89.40.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The company had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. During the same period last year, the company posted $0.75 earnings per share. Albany International’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts anticipate that Albany International will post 3.9 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.15%. Albany International’s payout ratio is currently 29.30%.

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.