Albany International (NYSE:AIN) Price Target Raised to $63.00

Albany International (NYSE:AIN) had its price target upped by JPMorgan Chase & Co. from $59.00 to $63.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the textile maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird cut shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 31st. Truist Financial reissued a “hold” rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Baird R W cut shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.50.

Albany International Price Performance

Albany International stock opened at $56.09 on Wednesday. Albany International has a 12-month low of $50.60 and a 12-month high of $88.13. The stock has a market capitalization of $1.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.35 and a beta of 1.36. The firm’s 50-day moving average is $58.99 and its two-hundred day moving average is $64.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $239.92 million for the quarter. Equities analysts predict that Albany International will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s payout ratio is 54.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIN. American Century Companies Inc. lifted its position in Albany International by 37.6% during the second quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker’s stock valued at $119,079,000 after buying an additional 464,040 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Albany International during the first quarter valued at approximately $18,985,000. Select Equity Group L.P. raised its stake in shares of Albany International by 784.2% during the first quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker’s stock valued at $8,717,000 after purchasing an additional 111,983 shares during the period. Jane Street Group LLC purchased a new stake in shares of Albany International during the first quarter valued at approximately $7,468,000. Finally, Millennium Management LLC raised its stake in shares of Albany International by 464.4% during the first quarter. Millennium Management LLC now owns 91,934 shares of the textile maker’s stock valued at $6,347,000 after purchasing an additional 75,644 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

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.