Albany International Corp. (NYSE:AIN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Albany International Corp. (NYSE:AIN) have earned an average rating of “Hold” from the four analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $95.50.

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Bank of America lowered their price objective on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Finally, TD Cowen lowered their price objective on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st.

Albany International Stock Up 1.7 %

AIN stock opened at $85.83 on Wednesday. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The company’s 50 day moving average is $86.55 and its two-hundred day moving average is $89.01. The stock has a market cap of $2.68 billion, a P/E ratio of 24.11, a PEG ratio of 2.65 and a beta of 1.26.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 7th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, June 7th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hilltop National Bank raised its stake in shares of Albany International by 14.7% during the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Albany International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after buying an additional 175 shares during the last quarter. Dakota Wealth Management raised its stake in shares of Albany International by 1.5% during the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Albany International by 22.2% during the 4th quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.