Analysts Set Albany International Corp. (NYSE:AIN) PT at $95.50

Albany International Corp. (NYSE:AIN) has been assigned a consensus rating of “Hold” from the four ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $95.50.

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

Albany International Stock Down 1.7 %

Shares of NYSE:AIN opened at $87.01 on Thursday. 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 firm has a market cap of $2.71 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.36 and a beta of 1.26. The stock’s 50-day moving average price is $89.08 and its two-hundred day moving average price is $88.42. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41.

Albany International (NYSE:AIN) last released 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 company had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same period in the prior year, the business posted $0.90 earnings per share. Albany International’s revenue was up 21.1% on a year-over-year basis. On average, research analysts forecast that Albany International will post 3.71 EPS for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Albany International in the second quarter valued at approximately $1,182,000. Sanctuary Advisors LLC acquired a new stake in Albany International during the 2nd quarter valued at $1,322,000. Point72 Asset Management L.P. increased its stake in Albany International by 119.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,700 shares of the textile maker’s stock worth $481,000 after buying an additional 3,100 shares during the period. Creative Planning lifted its holdings in Albany International by 3.0% in the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after buying an additional 147 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Albany International in the 2nd quarter valued at about $494,000. 97.37% of the stock is owned by institutional investors and hedge funds.

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.