Albany International Corp. (NYSE:AIN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Albany International Corp. (NYSE:AIN) have earned an average rating of “Hold” from the four ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $88.00.

Several brokerages recently weighed in on AIN. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Truist Financial reduced their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Insider Transactions at Albany International

In related news, SVP Robert Alan Hansen purchased 1,050 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.26 per share, with a total value of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. This represents a 14.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gunnar Kleveland purchased 1,400 shares of Albany International stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,450 shares of company stock valued at $245,813 over the last 90 days. 0.76% of the stock is owned by company insiders.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in Albany International in the 1st quarter valued at approximately $679,000. MQS Management LLC acquired a new stake in shares of Albany International in the third quarter valued at approximately $800,000. Assenagon Asset Management S.A. lifted its position in shares of Albany International by 29.7% in the second quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock worth $8,490,000 after purchasing an additional 23,018 shares in the last quarter. Sei Investments Co. boosted its holdings in Albany International by 3.7% during the first quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock worth $64,970,000 after purchasing an additional 24,720 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in 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 in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Trading Down 1.9 %

Shares of NYSE AIN opened at $80.52 on Friday. Albany International has a 1-year low of $67.39 and a 1-year high of $99.41. The company has a 50-day moving average of $79.27 and a two-hundred day moving average of $84.71. The company has a market cap of $2.52 billion, a PE ratio of 25.16, a P/E/G ratio of 2.63 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Albany International will post 3.2 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were paid a $0.26 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.29%. Albany International’s payout ratio is 32.50%.

Albany International Company Profile

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.