Albany International Corp. (NYSE:AIN) Given Average Recommendation of “Hold” by Analysts

Albany International Corp. (NYSE:AIN) has earned a consensus rating of “Hold” from the four brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $89.50.

Several analysts have recently weighed in on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Cowen decreased 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. Finally, Truist Financial decreased 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.

Hedge Funds Weigh In On Albany International

A number of large investors have recently bought and sold shares of AIN. Victory Capital Management Inc. lifted its holdings in Albany International by 5,971.5% in the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after acquiring an additional 672,631 shares during the last quarter. Earnest Partners LLC lifted its holdings in Albany International by 2.1% in the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after acquiring an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Albany International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after acquiring an additional 52,909 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Albany International by 176.9% in the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after acquiring an additional 42,740 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Albany International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock worth $345,580,000 after acquiring an additional 38,446 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 3.0 %

Shares of Albany International stock opened at $72.35 on Monday. The business has a 50-day moving average of $86.06 and a 200-day moving average of $87.08. 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 company has a market capitalization of $2.26 billion, a PE ratio of 20.32, a P/E/G ratio of 2.39 and a beta of 1.25. Albany International has a 1-year low of $69.19 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, equities analysts forecast that Albany International will post 3.11 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.44%. Albany International’s dividend payout ratio is currently 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.