Albany International (NYSE:AIN) Given New $95.00 Price Target at TD Cowen

Albany International (NYSE:AIN) had its target price reduced by TD Cowen from $106.00 to $95.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Other equities analysts also recently issued research reports about the company. Bank of America reiterated an underperform rating and set a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. Truist Financial reduced their price objective on Albany International from $121.00 to $104.00 and set a buy rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $103.50.

Albany International Stock Performance

Shares of NYSE:AIN opened at $81.63 on Wednesday. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41. The firm has a market capitalization of $2.55 billion, a PE ratio of 22.93, a P/E/G ratio of 2.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The business’s 50 day moving average price is $90.98 and its 200-day moving average price is $89.65.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Albany International had a return on equity of 13.54% and a net margin of 9.35%. The firm had revenue of $313.33 million for the quarter, compared to the consensus estimate of $313.41 million. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a yield of 1.27%. Albany International’s dividend payout ratio is currently 29.21%.

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Albany International by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock valued at $345,580,000 after buying an additional 38,446 shares during the period. Earnest Partners LLC raised its holdings in shares of Albany International by 2.0% in the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after buying an additional 45,158 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Albany International by 0.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock valued at $61,925,000 after buying an additional 5,374 shares during the period. Sei Investments Co. raised its holdings in shares of Albany International by 37.2% in the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after buying an additional 181,814 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Albany International by 6.5% in the 4th quarter. Clearbridge Investments LLC now owns 598,038 shares of the textile maker’s stock valued at $58,739,000 after buying an additional 36,254 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.