Albany International (NYSE:AIN) Price Target Raised to $47.00 at JPMorgan Chase & Co.

Albany International (NYSE:AIN) had its price target raised by JPMorgan Chase & Co. from $45.00 to $47.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the textile maker’s stock.

A number of other research firms also recently weighed in on AIN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a report on Monday, December 29th. Zacks Research cut Albany International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Truist Financial set a $55.00 target price on shares of Albany International in a report on Friday, January 9th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $61.50.

Albany International Stock Down 1.1%

Shares of AIN stock opened at $57.86 on Friday. Albany International has a one year low of $41.15 and a one year high of $83.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.34 and a quick ratio of 1.84. The stock has a fifty day moving average price of $50.11 and a 200 day moving average price of $57.48. The stock has a market cap of $1.66 billion, a P/E ratio of -29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.11). Albany International had a negative net margin of 4.66% and a positive return on equity of 8.98%. The business had revenue of $307.44 million during the quarter, compared to analyst estimates of $303.41 million. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts predict that Albany International will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Tuesday, December 16th were issued a $0.28 dividend. This is a positive change from Albany International’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, December 16th. Albany International’s dividend payout ratio (DPR) is presently -57.73%.

Insider Buying and Selling

In related news, CEO Gunnar Kleveland acquired 2,300 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $42.04 per share, with a total value of $96,692.00. Following the acquisition, the chief executive officer directly owned 19,895 shares in the company, valued at $836,385.80. The trade was a 13.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Albany International

Several hedge funds have recently modified their holdings of AIN. Blue Trust Inc. increased its stake in shares of Albany International by 5.6% in the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker’s stock valued at $227,000 after buying an additional 172 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 174 shares during the last quarter. California State Teachers Retirement System increased its position in Albany International by 0.6% in the second quarter. California State Teachers Retirement System now owns 28,783 shares of the textile maker’s stock worth $2,019,000 after purchasing an additional 179 shares during the period. Verdence Capital Advisors LLC raised its holdings in Albany International by 2.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker’s stock worth $488,000 after purchasing an additional 193 shares during the last quarter. Finally, Keybank National Association OH lifted its position in Albany International by 5.3% during the 2nd quarter. Keybank National Association OH now owns 4,495 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 225 shares during the period. 97.37% of the stock is owned by institutional investors.

About Albany International

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.