Albany International (NYSE:AIN) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a report published on Wednesday.

A number of other research firms have also recently commented on AIN. Truist Financial lowered their price target on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 1st. TD Cowen lowered their target price on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International currently has an average rating of “Hold” and an average target price of $88.00.

Albany International Trading Up 1.0 %

AIN opened at $82.11 on Wednesday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International has a twelve month low of $67.39 and a twelve month high of $99.41. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.63 and a beta of 1.29. The company has a 50-day simple moving average of $79.27 and a 200 day simple moving average of $84.71.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that Albany International will post 3.2 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is 32.50%.

Insiders Place Their Bets

In other news, VP Joseph M. Gaug purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Gunnar Kleveland acquired 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph M. Gaug bought 1,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the acquisition, the vice president now directly owns 6,811 shares in the company, valued at approximately $485,215.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,450 shares of company stock valued at $245,813 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Albany International

A number of hedge funds have recently made changes to their positions in the stock. FORA Capital LLC bought a new stake in Albany International in the third quarter valued at approximately $241,000. Quantbot Technologies LP lifted its position in shares of Albany International by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 6,491 shares of the textile maker’s stock worth $577,000 after purchasing an additional 1,333 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Albany International in the 3rd quarter valued at $981,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Albany International by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock valued at $35,360,000 after purchasing an additional 15,120 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Albany International by 72.4% during the third quarter. Intech Investment Management LLC now owns 9,114 shares of the textile maker’s stock worth $810,000 after buying an additional 3,827 shares during the period. 97.37% of the stock is currently 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.