Albany International Corp. (NYSE:AIN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Albany International Corp. (NYSE:AIN) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $83.00.

A number of research firms recently commented on AIN. Truist Financial lifted their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird lowered their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Bank of America decreased their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Albany International by 3.9% during the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker’s stock worth $211,209,000 after purchasing an additional 99,149 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Albany International by 3,050.6% during the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock worth $109,075,000 after purchasing an additional 1,320,654 shares during the last quarter. State Street Corp raised its holdings in shares of Albany International by 3.1% during the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after purchasing an additional 36,944 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Albany International by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock worth $88,217,000 after purchasing an additional 9,226 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of Albany International stock traded up $1.74 during trading hours on Friday, reaching $75.51. The company’s stock had a trading volume of 35,184 shares, compared to its average volume of 161,606. The firm has a 50 day moving average price of $80.53 and a 200-day moving average price of $81.58. Albany International has a one year low of $67.39 and a one year high of $97.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market cap of $2.36 billion, a P/E ratio of 23.60 and a beta of 1.34.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. On average, analysts predict that Albany International will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. Albany International’s dividend payout ratio (DPR) is presently 33.75%.

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.