Albany International Corp. (NYSE:AIN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Albany International Corp. (NYSE:AIN) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $83.00.

Several research firms have commented on AIN. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America lowered their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. JPMorgan Chase & Co. lowered their target price 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, Truist Financial raised their target price on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th.

Albany International Trading Down 1.6 %

Shares of NYSE:AIN opened at $72.32 on Friday. The company has a market cap of $2.26 billion, a PE ratio of 22.60 and a beta of 1.34. The company’s 50-day moving average price is $79.83 and its 200 day moving average price is $81.08. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $97.60. 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 data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). The firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Sell-side analysts anticipate that Albany International will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.49%. Albany International’s dividend payout ratio is currently 38.71%.

Hedge Funds Weigh In On Albany International

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Albany International by 0.4% in the 4th 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 grew its stake in shares of Albany International by 3.9% in the 4th 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 grew its stake in shares of Albany International by 3,050.6% in the 4th 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 grew its stake in shares of Albany International by 3.1% in the 3rd 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 grew its stake in shares of Albany International by 0.8% in the 4th 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. 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.