Truist Financial Issues Pessimistic Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its price target cut by Truist Financial from $91.00 to $85.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other research analysts have also recently weighed in on the stock. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.00.

Albany International Trading Up 2.4 %

Shares of Albany International stock opened at $69.53 on Friday. The company has a fifty day moving average of $81.30 and a 200 day moving average of $85.18. The company has a market capitalization of $2.17 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.23 and a beta of 1.29. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.87 and a current ratio of 3.68.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the business posted $1.02 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Albany International will post 3.16 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Hedge Funds Weigh In On Albany International

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Albany International by 13.7% during the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock valued at $2,411,000 after buying an additional 3,104 shares during the last quarter. Whittier Trust Co. grew its position in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Albany International during the 1st quarter worth about $128,000. GSA Capital Partners LLP lifted its holdings in shares of Albany International by 201.8% in the 1st quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock valued at $924,000 after buying an additional 6,605 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in Albany International by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock worth $2,553,000 after acquiring an additional 358 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

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.