Albany International Corp. (NYSE:AIN) Receives $110.50 Average Price Target from Analysts

Albany International Corp. (NYSE:AIN) has earned an average recommendation of “Moderate Buy” from the four analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $110.50.

Several equities research analysts recently issued reports on AIN shares. Truist Financial increased their target price on shares of Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Bank of America reissued an “underperform” rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a report on Thursday, March 28th.

Albany International Stock Up 0.3 %

NYSE:AIN opened at $87.68 on Monday. The firm’s 50-day moving average price is $91.56 and its 200-day moving average price is $89.69. The company has a market capitalization of $2.74 billion, a PE ratio of 24.70, a P/E/G ratio of 2.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. Albany International has a 1-year low of $78.20 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.84 by $0.38. The company had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. Albany International’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities analysts predict that Albany International will post 3.93 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. Albany International’s dividend payout ratio is presently 29.30%.

Institutional Investors Weigh In On Albany International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Essex Financial Services Inc. raised its holdings in shares of Albany International by 11.3% in the first quarter. Essex Financial Services Inc. now owns 6,098 shares of the textile maker’s stock worth $570,000 after buying an additional 620 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Albany International by 263.4% in the first quarter. Assenagon Asset Management S.A. now owns 77,510 shares of the textile maker’s stock worth $7,248,000 after buying an additional 56,179 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Albany International by 4.7% in the first quarter. Raymond James & Associates now owns 120,109 shares of the textile maker’s stock worth $11,231,000 after buying an additional 5,400 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Albany International by 26.8% in the first quarter. Diversified Trust Co now owns 8,750 shares of the textile maker’s stock worth $818,000 after buying an additional 1,850 shares during the last quarter. Finally, Gilman Hill Asset Management LLC raised its holdings in shares of Albany International by 92.4% in the first quarter. Gilman Hill Asset Management LLC now owns 40,298 shares of the textile maker’s stock worth $3,768,000 after buying an additional 19,350 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.