Brokerages Set Albany International Corp. (NYSE:AIN) Target Price at $89.50

Albany International Corp. (NYSE:AIN) has been assigned an average recommendation of “Hold” from the four analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $89.50.

A number of research firms recently weighed in on AIN. Truist Financial dropped their price target on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. TD Cowen lowered their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

Albany International Stock Up 1.6 %

AIN opened at $75.25 on Monday. Albany International has a fifty-two week low of $69.19 and a fifty-two week high of $99.41. The company has a market capitalization of $2.35 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The firm’s fifty day moving average price is $85.36 and its two-hundred day moving average price is $86.66.

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). The company had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, analysts anticipate that Albany International will post 3.11 EPS for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.38%. 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. lifted its holdings in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC increased its stake in Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after acquiring an additional 145 shares during the period. Hilltop National Bank raised its holdings in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 134 shares in the last quarter. SG Americas Securities LLC acquired a new position in Albany International in the 1st quarter valued at $102,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Albany International during the 1st quarter valued at $128,000. Institutional investors 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.