Albany International (NYSE:AIN) Upgraded at StockNews.com

StockNews.com upgraded shares of Albany International (NYSE:AIN) from a hold rating to a buy rating in a report published on Friday.

Several other research analysts also recently weighed in on AIN. Truist Financial decreased their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Bank of America reduced their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Finally, TD Cowen lowered their price target on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.50.

Albany International Stock Down 0.2 %

Shares of AIN opened at $81.96 on Friday. The firm has a market cap of $2.57 billion, a P/E ratio of 25.61 and a beta of 1.34. Albany International has a 12 month low of $67.39 and a 12 month high of $99.41. The stock’s 50 day moving average is $77.92 and its two-hundred day moving average is $83.88. 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 released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. Analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.32%. Albany International’s dividend payout ratio is presently 33.75%.

Insiders Place Their Bets

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 acquired at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the acquisition, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 14.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock valued at $245,813 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its holdings in Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after buying an additional 402 shares during the period. GAMMA Investing LLC raised its stake in shares of Albany International by 33.4% in the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 225 shares during the period. KBC Group NV lifted its holdings in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Albany International by 40.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after purchasing an additional 570 shares during the period. Finally, Bridges Investment Management Inc. acquired a new stake in Albany International in the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

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.