Albany International Corp. (NYSE:AIN) Receives $83.00 Consensus PT from Analysts

Shares of Albany International Corp. (NYSE:AIN) have received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $82.00.

A number of research firms recently issued reports on AIN. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird reduced their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Bank of America cut their price target on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday, March 25th.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock valued at $109,075,000 after purchasing an additional 1,320,654 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Albany International by 3,380.5% in the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock valued at $67,925,000 after buying an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Albany International during the fourth quarter worth $62,181,000. Norges Bank bought a new stake in Albany International during the fourth quarter worth $39,044,000. Finally, Raymond James Financial Inc. acquired a new stake in Albany International in the fourth quarter valued at $19,349,000. Institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 3.6 %

Shares of NYSE AIN opened at $69.39 on Tuesday. Albany International has a twelve month low of $67.39 and a twelve month high of $95.47. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 21.68 and a beta of 1.37. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $77.46 and its 200-day moving average is $79.15.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. Equities research analysts predict that Albany International will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.56%. Albany International’s dividend payout ratio is 38.71%.

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.