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

Shares of Albany International Corp. (NYSE:AIN) have been assigned an average rating of “Hold” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $95.50.

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

Albany International Trading Up 0.5 %

Shares of NYSE AIN opened at $87.01 on Thursday. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The firm has a market cap of $2.71 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. The business has a fifty day simple moving average of $89.05 and a two-hundred day simple moving average of $88.49. 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 (NYSE:AIN) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $318.17 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s revenue was up 21.1% compared to the same quarter last year. Analysts expect that Albany International will post 3.71 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

Hedge Funds Weigh In On Albany International

A number of institutional investors have recently modified their holdings of the stock. UniSuper Management Pty Ltd acquired a new position in Albany International during the first quarter worth $679,000. Norges Bank purchased a new stake in Albany International in the 4th quarter valued at about $33,273,000. Assenagon Asset Management S.A. lifted its position in Albany International by 29.7% in the second quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock valued at $8,490,000 after buying an additional 23,018 shares during the last quarter. Sei Investments Co. boosted its stake in Albany International by 3.7% during the first quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock worth $64,970,000 after buying an additional 24,720 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Albany International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after buying an additional 11,052 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.