Albany International Corp. (NYSE:AIN) Receives $83.00 Average Target Price from Brokerages

Albany International Corp. (NYSE:AIN) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given 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 a report on the stock in the last year is $82.00.

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

Albany International Trading Down 1.7 %

NYSE AIN opened at $72.15 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.23 billion, a P/E ratio of 22.55 and a beta of 1.37. The business has a fifty day simple moving average of $77.70 and a 200 day simple moving average of $79.30. Albany International has a 12 month low of $67.39 and a 12 month high of $95.47.

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 firm had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. On average, analysts predict that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio is presently 38.71%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Albany International during the fourth quarter worth about $40,000. Quarry LP lifted its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC raised its position in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after purchasing an additional 662 shares during the period. Finally, Vestcor Inc purchased a new stake in Albany International during the fourth quarter valued at about $70,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.