Albany International (NYSE:AIN) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other analysts have also commented on the company. Truist Financial dropped their price target on Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Robert W. Baird cut their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America dropped their target price on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.40.

Albany International Stock Up 0.6 %

Albany International stock opened at $65.62 on Thursday. 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’s fifty day moving average price is $67.62 and its two-hundred day moving average price is $75.64. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.51 and a beta of 1.37. Albany International has a 1-year low of $57.71 and a 1-year high of $95.47.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same period in the previous year, the firm earned $0.90 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, March 21st. Albany International’s dividend payout ratio is 43.55%.

Hedge Funds Weigh In On Albany International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International during the 4th quarter worth $40,000. Smartleaf Asset Management LLC raised its holdings in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after buying an additional 503 shares in the last quarter. Sterling Capital Management LLC lifted its position in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after buying an additional 662 shares during the last quarter. Vestcor Inc purchased a new stake in Albany International in the fourth quarter worth approximately $70,000. Finally, Covestor Ltd grew its position in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker’s stock valued at $71,000 after acquiring an additional 466 shares during the last quarter. Hedge funds and other institutional investors 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.