Albany International (NYSE:AIN) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report report published on Friday morning.

Other equities analysts have also issued reports about the company. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Bank of America cut their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Albany International Price Performance

Shares of NYSE AIN opened at $76.58 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 23.93 and a beta of 1.34. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $80.53 and its two-hundred day simple moving average is $81.58. Albany International has a twelve month low of $67.39 and a twelve month high of $97.60.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. As a group, equities analysts anticipate that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio is presently 33.75%.

Institutional Trading of Albany International

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Albany International by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Albany International by 3.9% during the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker’s stock valued at $211,209,000 after acquiring an additional 99,149 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Albany International by 3,050.6% during the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock valued at $109,075,000 after acquiring an additional 1,320,654 shares during the last quarter. State Street Corp boosted its holdings in shares of Albany International by 3.1% during the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after purchasing an additional 36,944 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Albany International by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock worth $88,217,000 after purchasing an additional 9,226 shares during the period. 97.37% of the stock is owned by institutional investors.

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.