Albany International Corp. (NYSE:AIN) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

Several equities analysts recently issued reports on the stock. Truist Financial boosted their price target on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird lowered their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th.

Albany International Price Performance

Shares of AIN stock opened at $69.14 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $95.47. The firm has a market cap of $2.14 billion, a P/E ratio of 21.61 and a beta of 1.37. The business’s 50 day moving average price is $77.21 and its 200-day moving average price is $79.00.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. On average, equities research analysts anticipate that Albany International will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

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

Institutional Investors Weigh In On Albany International

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its position in shares of Albany International by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker’s stock worth $298,000 after purchasing an additional 133 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Albany International by 3.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after purchasing an additional 155 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Albany International by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock worth $261,000 after buying an additional 207 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Albany International by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker’s stock worth $3,925,000 after buying an additional 265 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after buying an additional 320 shares during the last quarter. 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.