Albany International (NYSE:AIN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Albany International (NYSE:AIN – Get Rating) in a research note released on Thursday. The firm issued a buy rating on the textile maker’s stock.

Separately, Truist Financial boosted their price target on shares of Albany International from $80.00 to $85.00 in a research report on Monday, January 9th.

Albany International Price Performance

Shares of Albany International stock opened at $88.95 on Thursday. The company has a current ratio of 3.97, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $103.61 and its two-hundred day moving average price is $96.57. Albany International has a 52 week low of $75.24 and a 52 week high of $115.39. The stock has a market cap of $2.77 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 3.22 and a beta of 1.34.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Friday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. Albany International’s dividend payout ratio is currently 32.89%.

Insider Buying and Selling

In related news, SVP Robert Alan Hansen sold 1,900 shares of Albany International stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $101.93, for a total value of $193,667.00. Following the transaction, the senior vice president now owns 11,504 shares of the company’s stock, valued at approximately $1,172,602.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Albany International

Several institutional investors and hedge funds have recently bought and sold shares of AIN. Bessemer Group Inc. grew its stake in Albany International by 244.8% during the 4th quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 328 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Albany International during the 4th quarter valued at about $54,000. Quadrant Capital Group LLC grew its stake in Albany International by 110.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 809 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 425 shares in the last quarter. US Asset Management LLC purchased a new position in Albany International during the 4th quarter valued at about $85,000. Finally, Eagle Bay Advisors LLC grew its stake in Albany International by 121.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,193 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 99.94% of the company’s stock.

Albany International Company Profile

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.