Albany International Corp. (NYSE:AIN) Receives $95.50 Consensus Target Price from Brokerages

Albany International Corp. (NYSE:AIN) has received an average recommendation of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $95.50.

AIN has been the topic of a number of recent research reports. Bank of America cut their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 29th. Truist Financial dropped their price objective on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. TD Cowen dropped their price objective on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new position in shares of Albany International in the fourth quarter worth about $231,000. Fifth Third Bancorp raised its stake in shares of Albany International by 31.6% in the fourth quarter. Fifth Third Bancorp now owns 20,808 shares of the textile maker’s stock worth $2,044,000 after buying an additional 4,994 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Albany International by 5.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,642 shares of the textile maker’s stock worth $1,438,000 after buying an additional 702 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Albany International in the fourth quarter worth about $1,532,000. Finally, Strs Ohio raised its stake in shares of Albany International by 22.2% in the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after buying an additional 200 shares during the period. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of AIN stock opened at $85.83 on Wednesday. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 2.65 and a beta of 1.26. The business’s fifty day moving average is $86.55 and its 200 day moving average is $89.01. The company has a quick ratio of 3.20, a current ratio of 3.99 and a debt-to-equity ratio of 0.45.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 7th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, June 7th. Albany International’s dividend payout ratio is 29.21%.

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.