Albany International (NYSE:AIN) Price Target Cut to $91.00

Albany International (NYSE:AIN) had its target price lowered by Truist Financial from $101.00 to $91.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

Separately, StockNews.com upgraded Albany International from a hold rating to a buy rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $89.50.

Albany International Price Performance

AIN opened at $77.72 on Thursday. The company has a market capitalization of $2.42 billion, a P/E ratio of 21.83, a PEG ratio of 2.42 and a beta of 1.25. The company has a 50-day moving average of $87.95 and a 200-day moving average of $87.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. Albany International has a 1-year low of $77.07 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings data 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). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities analysts expect that Albany International will post 3.71 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Institutional Trading of Albany International

Several hedge funds have recently made changes to their positions in AIN. Victory Capital Management Inc. grew its stake in Albany International by 5,971.5% during the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after buying an additional 672,631 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Albany International by 37.2% during the fourth quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after acquiring an additional 181,814 shares during the period. Earnest Partners LLC grew its position in shares of Albany International by 2.1% during 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 increased its holdings in shares of 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 worth $92,192,000 after acquiring an additional 52,909 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Albany International by 176.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after purchasing an additional 42,740 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

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.