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

Shares of Albany International Corp. (NYSE:AIN) have received a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $90.25.

Several research firms have weighed in on AIN. Zacks Investment Research upgraded Albany International from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Friday, July 30th. Robert W. Baird reiterated a “hold” rating on shares of Albany International in a research note on Wednesday, July 28th. Truist Securities started coverage on Albany International in a research note on Monday, June 28th. They set a “hold” rating and a $80.00 price target on the stock. Truist started coverage on Albany International in a report on Monday, June 28th. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Bank of America raised Albany International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.50 to $105.00 in a report on Friday, July 30th.

In other Albany International news, Director Christine L. Standish sold 1,566,644 shares of the stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $75.97, for a total transaction of $119,017,944.68. Following the completion of the transaction, the director now owns 7,066 shares of the company’s stock, valued at $536,804.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel A. Halftermeyer sold 5,000 shares of the stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $90.03, for a total value of $450,150.00. Following the transaction, the insider now directly owns 66,655 shares of the company’s stock, valued at approximately $6,000,949.65. The disclosure for this sale can be found here. 5.78% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Eaton Vance Management grew its position in Albany International by 0.3% in the first quarter. Eaton Vance Management now owns 50,363 shares of the textile maker’s stock worth $4,204,000 after acquiring an additional 136 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Albany International by 1.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,729 shares of the textile maker’s stock worth $896,000 after buying an additional 140 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Albany International by 2.9% during the second quarter. Integrated Investment Consultants LLC now owns 4,985 shares of the textile maker’s stock worth $445,000 after buying an additional 142 shares during the period. Profund Advisors LLC boosted its position in shares of Albany International by 4.6% during the second quarter. Profund Advisors LLC now owns 3,770 shares of the textile maker’s stock worth $337,000 after buying an additional 165 shares during the period. Finally, Cascade Investment Advisors Inc. boosted its position in shares of Albany International by 1.4% during the second quarter. Cascade Investment Advisors Inc. now owns 13,815 shares of the textile maker’s stock worth $1,233,000 after buying an additional 185 shares during the period. Institutional investors own 90.32% of the company’s stock.

NYSE AIN traded up $1.12 on Friday, reaching $77.67. 352,575 shares of the stock traded hands, compared to its average volume of 127,668. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.40 and a current ratio of 4.09. The company has a fifty day moving average price of $79.85 and a 200-day moving average price of $84.45. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 5.56 and a beta of 1.43. Albany International has a 12 month low of $48.57 and a 12 month high of $93.43.

Albany International (NYSE:AIN) last released its quarterly earnings results on Sunday, July 25th. The textile maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.28. The firm had revenue of $234.52 million during the quarter, compared to analyst estimates of $218.80 million. Albany International had a return on equity of 14.80% and a net margin of 12.96%. As a group, research analysts anticipate that Albany International will post 3.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Tuesday, September 7th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.03%. Albany International’s payout ratio is 21.51%.

About Albany International

Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.

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