Albany International Corp. (NYSE:AIN) Given Average Rating of “Moderate Buy” by Brokerages

Albany International Corp. (NYSE:AIN) has been given an average rating of “Moderate Buy” by the four analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $110.50.

AIN has been the subject of a number of recent research reports. Bank of America restated an “underperform” rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a research note on Thursday. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Truist Financial increased their price objective on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, TheStreet upgraded Albany International from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th.

Hedge Funds Weigh In On Albany International

Several institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd lifted its holdings in shares of Albany International by 21.0% during the 4th quarter. Quadrature Capital Ltd now owns 6,372 shares of the textile maker’s stock valued at $626,000 after purchasing an additional 1,108 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Albany International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock valued at $345,580,000 after purchasing an additional 38,446 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Albany International by 12.2% during the 4th quarter. GSA Capital Partners LLP now owns 3,273 shares of the textile maker’s stock valued at $321,000 after purchasing an additional 355 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Albany International by 7.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 41,902 shares of the textile maker’s stock valued at $4,116,000 after buying an additional 3,083 shares during the last quarter. Finally, Barclays PLC raised its position in Albany International by 221.7% in the 4th quarter. Barclays PLC now owns 49,178 shares of the textile maker’s stock valued at $4,831,000 after buying an additional 33,890 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 1.9 %

Shares of Albany International stock opened at $96.40 on Thursday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 27.15, a PEG ratio of 3.67 and a beta of 1.26. 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 50 day moving average price of $91.82 and a two-hundred day moving average price of $89.23. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41.

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, beating the consensus estimate of $0.84 by $0.38. The company had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. Albany International’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities analysts expect that Albany International will post 3.9 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is currently 29.30%.

About Albany International

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.