Albany International (NYSE:AIN) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other equities research analysts have also weighed in on the company. TD Cowen lowered their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Truist Financial lowered their price target on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $85.50.

Albany International Stock Performance

Shares of AIN stock opened at $80.09 on Wednesday. The stock has a market capitalization of $2.51 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41. The stock’s 50-day moving average price is $79.06 and its 200 day moving average price is $84.63. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Albany International will post 3.2 EPS for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.30%. Albany International’s dividend payout ratio (DPR) is 32.50%.

Insider Buying and Selling at Albany International

In other Albany International news, CEO Gunnar Kleveland purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,450 shares of company stock valued at $245,813 in the last three months. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of Albany International

Hedge funds have recently modified their holdings of the stock. Quarry LP grew its stake in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank grew its stake in shares of Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the last quarter. KBC Group NV grew its stake in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Albany International during the first quarter valued at approximately $102,000. 97.37% of the stock is owned by institutional investors.

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.