Albany International Corp. (NYSE:AIN) Receives $88.00 Consensus Price Target from Analysts

Albany International Corp. (NYSE:AIN) has earned a consensus recommendation of “Hold” from the four analysts that are currently covering the stock, MarketBeat Ratings reports. One investment 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 12 month price target among brokerages that have covered the stock in the last year is $88.00.

Several brokerages have issued reports on AIN. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Truist Financial lowered their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st.

Insider Transactions at Albany International

In other news, CEO Gunnar Kleveland acquired 1,400 shares of the stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Robert Alan Hansen purchased 1,050 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares in the company, valued at approximately $597,657.62. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gunnar Kleveland purchased 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,450 shares of company stock valued at $245,813. Company insiders own 0.76% of the company’s stock.

Institutional Trading of Albany International

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Albany International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Earnest Partners LLC grew its holdings in Albany International by 2.1% during the 2nd 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 increased its position in Albany International by 5.1% in 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 acquiring an additional 52,909 shares during the period. Victory Capital Management Inc. raised its stake in shares of Albany International by 24.0% during the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock valued at $75,330,000 after acquiring an additional 163,934 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Albany International by 3.5% during the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after purchasing an additional 24,430 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Down 2.4 %

AIN stock opened at $81.28 on Friday. The business’s 50 day simple moving average is $79.41 and its 200 day simple moving average is $84.73. Albany International has a 1-year low of $67.39 and a 1-year high of $99.41. The firm has a market capitalization of $2.54 billion, a PE ratio of 25.40, a PEG ratio of 2.66 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, research analysts anticipate that Albany International will post 3.2 EPS for the current year.

Albany International Dividend Announcement

The company 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. This represents a $1.04 annualized dividend and a yield of 1.28%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio is currently 32.50%.

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.