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

Albany International Corp. (NYSE:AIN) has been given an average rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $81.00.

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Truist Financial cut their price objective on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Bank of America cut their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Albany International from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Friday, May 16th.

Albany International Trading Down 2.3%

Albany International stock opened at $67.83 on Wednesday. The business has a 50-day simple moving average of $66.95 and a two-hundred day simple moving average of $75.53. The company has a market cap of $2.05 billion, a P/E ratio of 21.20 and a beta of 1.37. Albany International has a 52-week low of $57.71 and a 52-week high of $95.47. 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 released its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Analysts predict that Albany International will post 3.23 EPS for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.59%. Albany International’s payout ratio is 43.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group boosted its position in shares of Albany International by 2,241.2% during the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Albany International during the 4th quarter valued at approximately $40,000. Smartleaf Asset Management LLC boosted its position in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after acquiring an additional 662 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Albany International during the 4th quarter valued at approximately $70,000. 97.37% of the stock is currently owned by institutional investors.

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.