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

Albany International Corp. (NYSE:AIN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $83.00.

AIN has been the topic of several analyst reports. TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Truist Financial increased their price objective 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. Robert W. Baird dropped their target price 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, February 28th. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th.

Hedge Funds Weigh In On Albany International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Albany International during the fourth quarter worth $40,000. Quarry LP raised its position in Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the period. Sterling Capital Management LLC grew its position in shares of Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Albany International in the fourth quarter valued at about $70,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Performance

NYSE AIN opened at $72.76 on Tuesday. The firm has a 50-day moving average price of $78.18 and a two-hundred day moving average price of $79.47. Albany International has a 12-month low of $67.39 and a 12-month high of $96.49. The company has a market capitalization of $2.25 billion, a P/E ratio of 22.74 and a beta of 1.37. 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, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. 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. Investors of record on Friday, March 21st will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.48%. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

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.