Brokerages Set Albany International Corp. (NYSE:AIN) Target Price at $110.50

Shares of Albany International Corp. (NYSE:AIN) have received an average rating of “Moderate Buy” from the four analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $110.50.

A number of equities research analysts have recently issued reports on AIN shares. Bank of America restated an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial upped their price objective on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th.

Albany International Stock Down 0.1 %

AIN stock opened at $87.95 on Monday. Albany International has a 52-week low of $78.20 and a 52-week high of $99.41. The company’s 50 day simple moving average is $91.81 and its 200-day simple moving average is $89.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The firm has a market capitalization of $2.74 billion, a P/E ratio of 24.77, a P/E/G ratio of 2.26 and a beta of 1.25.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The business had revenue of $323.60 million for the quarter, compared to analyst estimates of $298.17 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Albany International will post 3.93 EPS for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.18%. Albany International’s dividend payout ratio is presently 29.30%.

Institutional Trading of Albany International

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

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.