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

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report sent to investors on Friday.

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

Albany International Stock Performance

Albany International stock opened at $76.58 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $80.53 and a 200-day moving average of $81.58. The firm has a market cap of $2.40 billion, a P/E ratio of 23.93 and a beta of 1.34. Albany International has a 1-year low of $67.39 and a 1-year high of $97.60.

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

Albany International Dividend Announcement

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

Institutional Investors Weigh In On Albany International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock valued at $279,403,000 after acquiring an additional 12,687 shares in the last quarter. Earnest Partners LLC increased its position 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 in the last quarter. Bank of America Corp DE increased its position 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 in the last quarter. State Street Corp increased its position 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 valued at $108,544,000 after acquiring an additional 36,944 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 valued at $88,217,000 after acquiring an additional 9,226 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

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.