Albany International Corp. (NYSE:AIN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Albany International Corp. (NYSE:AINGet Free Report) have earned a consensus rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $101.00.

AIN has been the topic of several research reports. Bank of America dropped their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. JPMorgan Chase & Co. decreased their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. TD Cowen decreased their price objective on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial decreased their price objective on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Read Our Latest Report on Albany International

Albany International Trading Up 1.5 %

Albany International stock opened at $84.50 on Tuesday. The stock has a market capitalization of $2.64 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 3.20. The business’s fifty day moving average is $87.41 and its 200 day moving average is $90.48. Albany International has a one year low of $78.20 and a one year high of $99.41.

Albany International (NYSE:AINGet Free Report) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $313.33 million for the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. On average, sell-side analysts predict that Albany International will post 3.8 EPS for the current year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, June 7th. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Insider Activity at Albany International

In other Albany International news, CFO Robert D. Starr bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $84.44 per share, with a total value of $84,440.00. Following the purchase, the chief financial officer now owns 2,610 shares of the company’s stock, valued at $220,388.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Albany International news, CFO Robert D. Starr bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $84.44 per share, with a total value of $84,440.00. Following the purchase, the chief financial officer now owns 2,610 shares of the company’s stock, valued at $220,388.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gunnar Kleveland bought 1,250 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $84.68 per share, for a total transaction of $105,850.00. Following the purchase, the chief executive officer now directly owns 6,884 shares in the company, valued at approximately $582,937.12. The disclosure for this purchase can be found here. 0.92% of the stock is owned by corporate insiders.

Institutional Trading of Albany International

A number of large investors have recently added to or reduced their stakes in the company. Atria Investments Inc bought a new stake in Albany International in the 1st quarter worth approximately $1,570,000. Quadrature Capital Ltd increased its stake in Albany International by 38.7% in the 1st quarter. Quadrature Capital Ltd now owns 8,835 shares of the textile maker’s stock worth $825,000 after acquiring an additional 2,463 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Albany International by 2.7% in the 1st quarter. Gabelli Funds LLC now owns 52,400 shares of the textile maker’s stock worth $4,900,000 after purchasing an additional 1,400 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Albany International by 2.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 688,522 shares of the textile maker’s stock worth $64,384,000 after purchasing an additional 17,832 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in shares of Albany International by 69.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,931 shares of the textile maker’s stock worth $181,000 after purchasing an additional 794 shares during the period. Institutional investors own 97.37% of the company’s stock.

About Albany International

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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.

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Analyst Recommendations for Albany International (NYSE:AIN)

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