Analysts Set Albany International Corporation (NYSE:AIN) Price Target at $69.00

Shares of Albany International Corporation (NYSE:AIN) have been given an average rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $69.00.

A number of brokerages have recently commented on AIN. Weiss Ratings reissued a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Thursday, July 31st. Baird R W downgraded Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Truist Financial reiterated a “hold” rating and issued a $55.00 price objective (down from $70.00) on shares of Albany International in a report on Friday, August 1st.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in Albany International by 5.6% in the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker’s stock valued at $227,000 after acquiring an additional 172 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Albany International by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after purchasing an additional 174 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Albany International by 0.6% in the second quarter. California State Teachers Retirement System now owns 28,783 shares of the textile maker’s stock worth $2,019,000 after purchasing an additional 179 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Albany International by 2.9% during the second quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker’s stock valued at $488,000 after purchasing an additional 193 shares in the last quarter. Finally, Keybank National Association OH boosted its position in shares of Albany International by 5.3% during the second quarter. Keybank National Association OH now owns 4,495 shares of the textile maker’s stock valued at $315,000 after buying an additional 225 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Price Performance

Shares of NYSE AIN opened at $55.75 on Friday. The stock’s 50-day simple moving average is $59.36 and its two-hundred day simple moving average is $64.32. Albany International has a twelve month low of $50.60 and a twelve month high of $88.13. The firm has a market capitalization of $1.64 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.28 and a beta of 1.36. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $239.92 million during the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%. As a group, equities analysts anticipate 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 was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.08 annualized dividend and a yield of 1.9%. Albany International’s dividend payout ratio is currently 54.00%.

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.