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

Shares of Albany International Corp. (NYSE:AIN) have been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $83.00.

A number of equities analysts have commented on the stock. Robert W. Baird reduced their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America reduced their price target 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. Truist Financial boosted their price target 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. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after acquiring an additional 12,687 shares in the last quarter. Earnest Partners LLC boosted its holdings 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 valued at $211,209,000 after buying an additional 99,149 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 valued at $109,075,000 after buying an additional 1,320,654 shares in the last quarter. State Street Corp raised its position in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock valued at $108,544,000 after purchasing an additional 36,944 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 valued at $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 Stock Performance

AIN stock traded up $1.74 during midday trading on Friday, hitting $75.51. 35,184 shares of the stock traded hands, compared to its average volume of 161,606. The stock’s fifty day simple moving average is $80.53 and its 200-day simple moving average is $81.58. Albany International has a 1-year low of $67.39 and a 1-year high of $97.60. The firm has a market cap of $2.36 billion, a P/E ratio of 23.60 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. On average, analysts expect that Albany International will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 33.75%.

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.