Albany International Corp. (NYSE:AIN) Receives Consensus Rating of “Moderate Buy” from Analysts

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

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

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Albany International by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock valued at $417,218,000 after purchasing an additional 51,597 shares in the last quarter. Vanguard Group Inc. raised 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 buying an additional 38,446 shares during the period. Earnest Partners LLC raised its holdings in shares of Albany International by 2.0% during 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. Dimensional Fund Advisors LP raised its holdings in shares of Albany International by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,151,310 shares of the textile maker’s stock valued at $97,080,000 after buying an additional 29,943 shares during the period. Finally, State Street Corp increased its holdings in Albany International by 0.5% during the 3rd quarter. State Street Corp now owns 1,082,808 shares of the textile maker’s stock worth $85,587,000 after purchasing an additional 5,426 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Trading Up 1.9 %

Shares of NYSE:AIN opened at $96.40 on Thursday. 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 $3.01 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 3.67 and a beta of 1.26. 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 $91.82 and its 200-day moving average price is $89.23.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to analyst estimates of $298.17 million. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Albany International will post 3.9 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be paid a $0.26 dividend. 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 payout ratio is 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.