TD Cowen Cuts Albany International (NYSE:AIN) Price Target to $81.00

Albany International (NYSE:AIN) had its price objective lowered by TD Cowen from $95.00 to $81.00 in a research note released on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the textile maker’s stock.

AIN has been the subject of a number of other research reports. Truist Financial dropped their target price on Albany International from $101.00 to $91.00 and set a buy rating for the company in a report on Thursday, October 3rd. StockNews.com raised Albany International from a hold rating to a buy rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of Hold and an average price target of $89.50.

Albany International Stock Down 4.6 %

AIN stock opened at $74.14 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International has a twelve month low of $73.58 and a twelve month high of $99.41. The stock has a market cap of $2.31 billion, a P/E ratio of 20.83, a PEG ratio of 2.42 and a beta of 1.25. The business’s 50-day moving average price is $87.59 and its 200-day moving average price is $87.65.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. During the same period in the previous year, the company posted $0.90 earnings per share. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities research analysts forecast that Albany International will post 3.71 EPS for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio is currently 29.21%.

Institutional Trading of Albany International

A number of institutional investors have recently made changes to their positions in AIN. Whittier Trust Co. increased its stake in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after acquiring an additional 266 shares during the period. GAMMA Investing LLC grew its stake in shares of Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after buying an additional 145 shares during the period. Hilltop National Bank grew its position in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after acquiring an additional 134 shares during the period. SG Americas Securities LLC purchased a new position in shares of Albany International during the 1st quarter worth $102,000. Finally, Central Pacific Bank Trust Division purchased a new position in Albany International during the first quarter worth about $128,000. 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.