Albany International Corporation (NYSE:AIN) Receives Average Rating of “Hold” from Analysts

Albany International Corporation (NYSE:AIN) has earned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $64.25.

Several analysts have commented on AIN shares. Truist Financial decreased their price target on shares of Albany International from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, November 7th. Zacks Research raised shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Robert W. Baird lowered shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a report on Thursday, July 31st. Weiss Ratings downgraded Albany International from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday. Finally, Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st.

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Albany International by 5.6% in the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker’s stock worth $227,000 after purchasing an additional 172 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after buying an additional 174 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Albany International by 0.6% during the second quarter. California State Teachers Retirement System now owns 28,783 shares of the textile maker’s stock worth $2,019,000 after buying an additional 179 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Albany International by 2.9% during the second quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker’s stock valued at $488,000 after buying an additional 193 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of Albany International by 5.3% in the 2nd quarter. Keybank National Association OH now owns 4,495 shares of the textile maker’s stock valued at $315,000 after acquiring an additional 225 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Down 4.1%

Albany International stock opened at $45.65 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.35 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.36 and a beta of 1.39. The business has a fifty day moving average of $56.37 and a two-hundred day moving average of $63.02. Albany International has a twelve month low of $45.42 and a twelve month high of $88.13.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The firm had revenue of $239.92 million during the quarter. On average, analysts forecast that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s dividend payout ratio (DPR) is currently -55.67%.

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.