Albany International Corp. (NYSE:AIN) Receives Average Recommendation of “Hold” from Brokerages

by · The Markets Daily

Shares of Albany International Corp. (NYSE:AIN – Get Free Report) have earned an average rating of “Hold” from the four research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $95.50.

AIN has been the topic of several research reports. Truist Financial dropped their price target on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Bank of America dropped their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th.

View Our Latest Analysis on Albany International

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. grew its stake in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Albany International in the fourth quarter worth $77,000. Hilltop National Bank grew its stake in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,091 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

AIN stock opened at $86.51 on Thursday. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.70 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.42 and a beta of 1.26. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The stock’s 50 day simple moving average is $88.77 and its 200 day simple moving average is $88.23.

Albany International (NYSE:AIN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts predict that Albany International will post 3.71 EPS for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

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.

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