Albany International (AIN) Now Covered by Noble Financial

Noble Financial began coverage on shares of Albany International (NYSE:AIN) in a research report report published on Tuesday, January 9th. The brokerage issued a hold rating on the textile maker’s stock.

Shares of Albany International (NYSE:AIN) traded up $0.40 during midday trading on Tuesday, reaching $63.10. The company’s stock had a trading volume of 112,312 shares, compared to its average volume of 107,536. The company has a current ratio of 2.49, a quick ratio of 1.76 and a debt-to-equity ratio of 0.80. Albany International has a 52-week low of $43.45 and a 52-week high of $65.65. The firm has a market cap of $2,038.26, a price-to-earnings ratio of 47.44 and a beta of 1.73.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Monday, October 30th. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. The firm had revenue of $222.14 million for the quarter. Albany International had a return on equity of 9.24% and a net margin of 5.06%. During the same period in the prior year, the company earned $0.41 earnings per share. research analysts expect that Albany International will post 1.24 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Tuesday, December 26th were given a dividend of $0.17 per share. The ex-dividend date was Friday, December 22nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Albany International’s payout ratio is 51.13%.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Albany International by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,580,292 shares of the textile maker’s stock worth $137,788,000 after buying an additional 11,228 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its position in shares of Albany International by 10.3% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 135,495 shares of the textile maker’s stock worth $7,885,000 after buying an additional 12,646 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Albany International by 65.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,308 shares of the textile maker’s stock worth $550,000 after buying an additional 4,059 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Albany International during the 2nd quarter worth $1,084,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Albany International during the 2nd quarter worth $456,000. Institutional investors and hedge funds own 90.65% of the company’s stock.

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About Albany International

Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.

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