Albany International (NYSE:AIN) Price Target Cut to $104.00 by Analysts at Truist Financial

Albany International (NYSE:AIN) had its price objective lowered by Truist Financial from $121.00 to $104.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

Separately, Bank of America restated an underperform rating and set a $95.00 target price (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $103.50.

Albany International Stock Up 2.4 %

NYSE AIN opened at $81.63 on Wednesday. The business has a fifty day moving average price of $90.98 and a two-hundred day moving average price of $89.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The stock has a market capitalization of $2.55 billion, a PE ratio of 22.93, a PEG ratio of 2.28 and a beta of 1.25.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Albany International had a return on equity of 13.54% and a net margin of 9.35%. The firm had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. During the same period in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts expect that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is 29.21%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Earnest Partners LLC lifted its stake in shares of Albany International by 2.0% in the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after acquiring an additional 45,158 shares during the last quarter. Swiss National Bank lifted its stake in shares of Albany International by 1.0% in the 3rd quarter. Swiss National Bank now owns 68,600 shares of the textile maker’s stock valued at $5,919,000 after acquiring an additional 700 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Albany International by 12.7% in the 3rd quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock valued at $42,127,000 after acquiring an additional 55,021 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Albany International by 12.1% in the 3rd quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after acquiring an additional 50,653 shares during the last quarter. Finally, Stone Run Capital LLC bought a new position in Albany International during the 3rd quarter worth $699,000. 97.37% of the stock is currently owned by institutional investors.

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.