Albany International (NYSE:AIN) Given “Underperform” Rating at Bank of America

Bank of America reiterated their underperform rating on shares of Albany International (NYSE:AIN) in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $95.00 target price on the textile maker’s stock, down from their previous target price of $105.00.

AIN has been the topic of a number of other research reports. Truist Financial raised 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. TheStreet raised shares of Albany International from a c+ rating to a b- rating in a report on Tuesday, December 12th. Finally, StockNews.com upgraded shares of Albany International from a hold rating to a buy rating in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $110.50.

Albany International Stock Performance

Albany International stock opened at $93.51 on Thursday. The stock has a market cap of $2.92 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 3.67 and a beta of 1.26. The stock has a 50 day moving average of $91.96 and a 200-day moving average of $89.26. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. Albany International has a 52 week low of $78.20 and a 52 week high of $99.41.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. During the same quarter last year, the business posted $0.75 EPS. Albany International’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, analysts expect that Albany International will post 3.9 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.26 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.11%. Albany International’s payout ratio is currently 29.30%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIN. Morgan Stanley increased its holdings in shares of Albany International by 74.2% in the 3rd quarter. Morgan Stanley now owns 890,785 shares of the textile maker’s stock valued at $76,857,000 after purchasing an additional 379,367 shares during the period. Norges Bank acquired a new position in Albany International in the 4th quarter worth about $33,273,000. Sei Investments Co. lifted its holdings in shares of Albany International by 37.2% during the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after buying an additional 181,814 shares during the last quarter. Nuveen Asset Management LLC raised its position in Albany International by 63.3% during the fourth quarter. Nuveen Asset Management LLC now owns 359,905 shares of the textile maker’s stock valued at $35,350,000 after acquiring an additional 139,522 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in Albany International by 189.5% in the second quarter. Citadel Advisors LLC now owns 206,945 shares of the textile maker’s stock worth $19,304,000 after acquiring an additional 135,472 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.