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

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

A number of research firms recently issued reports on AIN. Truist Financial lowered their target price on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Bank of America dropped their price objective on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 29th. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

Albany International Price Performance

Shares of NYSE:AIN opened at $86.23 on Thursday. The company has a market capitalization of $2.69 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. The stock has a fifty day moving average of $89.01 and a 200-day moving average of $88.31. Albany International has a one year low of $78.20 and a one year high of $99.41.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, equities analysts anticipate that Albany International will post 3.71 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.21%. Albany International’s dividend payout ratio (DPR) is currently 29.21%.

Institutional Investors Weigh In On Albany International

Several institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Albany International in the second quarter valued at $1,182,000. Sanctuary Advisors LLC bought a new position in shares of Albany International in the 2nd quarter valued at about $1,322,000. Point72 Asset Management L.P. increased its position in shares of Albany International by 119.2% in the second quarter. Point72 Asset Management L.P. now owns 5,700 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 3,100 shares during the last quarter. Creative Planning raised its holdings in Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after acquiring an additional 147 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Albany International during the second quarter valued at approximately $494,000. 97.37% of the stock is owned by institutional investors.

Albany International Company Profile

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.