Albany International Corporation (NYSE:AIN) Receives $61.50 Consensus Target Price from Brokerages

Albany International Corporation (NYSE:AIN) has earned an average rating of “Reduce” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.50.

A number of analysts recently commented on AIN shares. Zacks Research lowered Albany International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (d)” rating on shares of Albany International in a report on Monday, December 29th. Truist Financial set a $55.00 price objective on shares of Albany International in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. upped their price target on Albany International from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th.

Albany International Stock Performance

Shares of NYSE:AIN opened at $57.98 on Friday. Albany International has a twelve month low of $41.15 and a twelve month high of $83.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.84 and a current ratio of 2.34. The business has a fifty day moving average of $54.62 and a 200-day moving average of $55.39. The firm has a market cap of $1.66 billion, a PE ratio of -29.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21.

Albany International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. This is an increase from Albany International’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, December 16th. Albany International’s payout ratio is currently -57.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Albany International by 227.3% in the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 375 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after buying an additional 174 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 270 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Albany International during the third quarter worth $66,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.