Albany International (NYSE:AIN) PT Lowered to $95.00 at TD Cowen

Albany International (NYSE:AIN) had its price objective reduced by TD Cowen from $106.00 to $95.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other equities analysts also recently commented on the company. Truist Financial decreased their price target on Albany International from $121.00 to $104.00 and set a buy rating for the company in a research note on Wednesday. Bank of America reiterated an underperform rating and issued a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Albany International has an average rating of Moderate Buy and a consensus target price of $103.50.

Albany International Stock Up 2.4 %

Shares of NYSE AIN opened at $81.63 on Wednesday. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. The stock’s 50-day simple moving average is $90.98 and its 200-day simple moving average is $89.65.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Albany International had a return on equity of 13.54% and a net margin of 9.35%. The business had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts anticipate that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Hedge Funds Weigh In On Albany International

Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of Albany International by 1.5% during the third quarter. Arizona State Retirement System now owns 8,883 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 129 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Albany International by 1.0% during the third quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock valued at $1,401,000 after purchasing an additional 156 shares during the last quarter. MQS Management LLC grew its holdings in shares of Albany International by 2.4% during the third quarter. MQS Management LLC now owns 6,584 shares of the textile maker’s stock valued at $568,000 after purchasing an additional 156 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Albany International by 4.9% during the third quarter. Inspire Investing LLC now owns 3,543 shares of the textile maker’s stock valued at $306,000 after purchasing an additional 167 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Albany International by 22.2% during the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 200 shares during the last quarter. 97.37% of the stock is 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.