Albany International (NYSE:AIN) PT Lowered to $81.00 at TD Cowen

Albany International (NYSE:AIN) had its target price reduced by TD Cowen from $95.00 to $81.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Several other research analysts have also weighed in on the company. Truist Financial reduced their target price on Albany International from $101.00 to $91.00 and set a buy rating on the stock in a report on Thursday. StockNews.com raised shares of Albany International from a hold rating to a buy rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $89.50.

Albany International Stock Performance

AIN stock opened at $77.72 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International has a twelve month low of $77.07 and a twelve month high of $99.41. The business’s fifty day moving average is $87.95 and its 200-day moving average is $87.80. The company has a market cap of $2.42 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. During the same quarter last year, the business posted $0.90 EPS. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts forecast that Albany International will post 3.71 EPS for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.34%. Albany International’s dividend payout ratio is 29.21%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UniSuper Management Pty Ltd bought a new stake in Albany International during the first quarter worth $679,000. Assenagon Asset Management S.A. raised its stake in Albany International by 29.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock valued at $8,490,000 after acquiring an additional 23,018 shares during the period. Sei Investments Co. lifted its holdings in Albany International by 3.7% during the 1st quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock valued at $64,970,000 after purchasing an additional 24,720 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after purchasing an additional 11,052 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Albany International by 9.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock valued at $2,677,000 after acquiring an additional 2,367 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

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.