Albany International Corporation (NYSE:AIN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Albany International Corporation (NYSE:AIN) have been assigned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $64.25.

AIN has been the topic of a number of analyst reports. Truist Financial lowered their target price on shares of Albany International from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Zacks Research downgraded Albany International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. raised their target price on Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a report on Monday, December 22nd.

Albany International Price Performance

Shares of AIN opened at $51.84 on Thursday. The business’s fifty day moving average is $50.61 and its 200 day moving average is $58.67. Albany International has a 12-month low of $41.15 and a 12-month high of $83.65. The company has a quick ratio of 1.84, a current ratio of 2.34 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.49 billion, a P/E ratio of -26.72, a P/E/G ratio of 2.27 and a beta of 1.23.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a negative net margin of 4.66% and a positive return on equity of 8.98%. The business had revenue of $239.92 million during the quarter. Sell-side analysts anticipate that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Tuesday, December 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, December 16th. This is a positive change from Albany International’s previous quarterly dividend of $0.27. Albany International’s dividend payout ratio (DPR) is currently -57.73%.

Insider Buying and Selling at Albany International

In other news, CEO Gunnar Kleveland purchased 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $96,692.00. Following the completion of the acquisition, the chief executive officer owned 19,895 shares in the company, valued at $836,385.80. This trade represents a 13.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Albany International

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of Albany International by 184.7% in the first quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker’s stock valued at $779,000 after acquiring an additional 7,290 shares in the last quarter. Jump Financial LLC bought a new position in Albany International in the 1st quarter valued at $1,740,000. Keeley Teton Advisors LLC grew its stake in Albany International by 36.4% in the 1st quarter. Keeley Teton Advisors LLC now owns 6,335 shares of the textile maker’s stock valued at $437,000 after purchasing an additional 1,690 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Albany International by 0.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker’s stock valued at $3,406,000 after purchasing an additional 250 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Albany International during the 1st quarter worth $628,000. Institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.