Albany International Corp. (NYSE:AIN) Receives $110.50 Consensus Target Price from Brokerages

Albany International Corp. (NYSE:AIN) has been given a consensus recommendation of “Moderate Buy” by the four brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $110.50.

AIN has been the subject of several research analyst reports. Truist Financial boosted their target price on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Bank of America reaffirmed an “underperform” rating and issued a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Earnest Partners LLC boosted its holdings in Albany International by 2.0% in the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after acquiring an additional 45,158 shares during the last quarter. Swiss National Bank boosted its holdings in Albany International by 1.0% in the third quarter. Swiss National Bank now owns 68,600 shares of the textile maker’s stock valued at $5,919,000 after acquiring an additional 700 shares during the last quarter. Sei Investments Co. boosted its holdings in Albany International by 12.7% in the third quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock valued at $42,127,000 after acquiring an additional 55,021 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Albany International by 12.1% in the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after acquiring an additional 50,653 shares during the last quarter. Finally, Stone Run Capital LLC bought a new stake in Albany International in the third quarter valued at approximately $699,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Trading Down 0.1 %

AIN opened at $87.95 on Monday. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a 50-day simple moving average of $91.81 and a 200 day simple moving average of $89.69. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 2.26 and a beta of 1.25.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.38. The business had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. Albany International’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Analysts predict that Albany International will post 3.93 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, March 14th. Albany International’s dividend payout ratio is currently 29.30%.

Albany International Company Profile

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.