Albany International (NYSE:AIN) Stock Dropped to Buy by Wall Street Zen

Wall Street Zen downgraded shares of Albany International (NYSE:AIN) from a strong-buy rating to a buy rating in a report released on Sunday,Wall Street Zen reports.

Several other equities analysts also recently weighed in on AIN. Weiss Ratings upgraded shares of Albany International from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Zacks Research raised shares of Albany International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Robert W. Baird increased their price target on shares of Albany International from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Albany International Stock Down 0.5%

Albany International stock opened at $66.94 on Friday. The company has a market cap of $1.90 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. Albany International has a 1-year low of $41.15 and a 1-year high of $77.00. The stock’s 50 day moving average price is $61.78 and its 200 day moving average price is $62.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.41 and a quick ratio of 1.89.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, October 28th. The textile maker reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.20. Albany International had a net margin of 6.73% and a return on equity of 14.25%. The business had revenue of $349.54 million for the quarter, compared to analysts’ expectations of $326.12 million. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, sell-side analysts predict that Albany International will post 3.36 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Tuesday, September 1st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. Albany International’s dividend payout ratio (DPR) is presently 36.25%.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Albany International by 57.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 214,525 shares of the textile maker’s stock valued at $12,788,000 after purchasing an additional 78,307 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Albany International by 18.8% during the 3rd quarter. Fifth Third Bancorp now owns 17,931 shares of the textile maker’s stock valued at $1,069,000 after buying an additional 2,834 shares during the period. Maryland State Retirement & Pension System increased its holdings in shares of Albany International by 53.6% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,351 shares of the textile maker’s stock worth $379,000 after buying an additional 2,217 shares during the last quarter. CenterBook Partners LP increased its holdings in shares of Albany International by 118.4% during the 3rd quarter. CenterBook Partners LP now owns 11,322 shares of the textile maker’s stock worth $675,000 after buying an additional 6,137 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new position in shares of Albany International in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

About Albany International

Albany International Corporation is an advanced materials and engineered products company serving the paper, aerospace and defense industries. Founded in 1895, the company develops and manufactures specialized textiles, composite materials and related process technologies for industrial applications.

Albany International operates through two primary businesses. Its Machine Clothing segment produces engineered fabrics and process belts used in paper manufacturing, including forming fabrics, press felts, dryer fabrics and other products that support papermaking efficiency and quality.