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

Albany International Corp. (NYSE:AINGet Free Report) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $101.00.

AIN has been the topic of several research analyst reports. Truist Financial lowered their target price on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. TD Cowen reduced their target price on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Bank of America dropped their price target 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.

View Our Latest Report on Albany International

Albany International Trading Down 0.9 %

Albany International stock opened at $83.60 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The firm’s 50 day moving average price is $87.88 and its two-hundred day moving average price is $90.52.

Albany International (NYSE:AINGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, research analysts predict that Albany International will post 3.8 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, June 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.24%. Albany International’s payout ratio is currently 29.21%.

Insider Activity

In other news, CEO Gunnar Kleveland acquired 1,250 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $84.68 per share, with a total value of $105,850.00. Following the acquisition, the chief executive officer now owns 6,884 shares in the company, valued at $582,937.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Albany International news, CEO Gunnar Kleveland acquired 1,250 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $84.68 per share, with a total value of $105,850.00. Following the transaction, the chief executive officer now owns 6,884 shares of the company’s stock, valued at $582,937.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert D. Starr bought 1,000 shares of the stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $84.44 per share, for a total transaction of $84,440.00. Following the acquisition, the chief financial officer now directly owns 2,610 shares in the company, valued at $220,388.40. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Albany International

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after acquiring an additional 11,052 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Albany International by 2.0% in the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Albany International by 0.8% in the third quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock worth $61,925,000 after purchasing an additional 5,374 shares during the period. 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 in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Albany International by 2.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 688,522 shares of the textile maker’s stock valued at $64,384,000 after buying an additional 17,832 shares during the period. Institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

(Get Free Report

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.

Read More

Analyst Recommendations for Albany International (NYSE:AIN)

Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.