Albany International Corp. (NYSE:AIN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Albany International Corp. (NYSE:AIN) have been assigned a consensus rating of “Moderate Buy” from the four analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $110.50.

A number of equities research analysts recently commented on the stock. Bank of America reiterated an “underperform” rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial upped their price objective on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th.

Institutional Investors Weigh In On Albany International

Institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in Albany International in the 3rd quarter worth about $29,000. Bessemer Group Inc. grew its stake in shares of Albany International by 244.8% in the fourth quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock worth $45,000 after acquiring an additional 328 shares during the period. GAMMA Investing LLC purchased a new position in shares of Albany International during the fourth quarter valued at approximately $47,000. West Tower Group LLC lifted its position in Albany International by 1,513.3% during the fourth quarter. West Tower Group LLC now owns 484 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 454 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Albany International in the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Up 0.5 %

Shares of Albany International stock opened at $88.23 on Monday. The company’s 50-day moving average price is $91.95 and its 200-day moving average price is $89.63. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.29 and a beta of 1.25.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The business had revenue of $323.60 million for the quarter, compared to analysts’ expectations of $298.17 million. During the same period last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts expect that Albany International will post 3.9 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio is presently 29.30%.

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.