Analysts Set Albany International Corp. (NYSE:AIN) PT at $88.00

Shares of Albany International Corp. (NYSE:AIN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the four analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $88.00.

A number of research analysts recently commented on the company. StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. Truist Financial dropped their target price on Albany International from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, TD Cowen reduced their price target on shares of Albany International from $95.00 to $81.00 and set a "buy" rating on the stock in a research report on Friday, October 4th.

Insiders Place Their Bets

In other news, SVP Robert Alan Hansen purchased 1,050 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were acquired at an average price of $71.26 per share, with a total value of $74,823.00. Following the acquisition, the senior vice president now directly owns 8,387 shares in the company, valued at approximately $597,657.62. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Albany International news, SVP Robert Alan Hansen acquired 1,050 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the acquisition, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief executive officer now directly owns 8,284 shares of the company's stock, valued at approximately $590,235. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,450 shares of company stock valued at $245,813 in the last ninety days. Company insiders own 0.76% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker's stock worth $57,000 after buying an additional 145 shares during the last quarter. Hilltop National Bank raised its position in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker's stock worth $88,000 after buying an additional 134 shares during the last quarter. KBC Group NV boosted its holdings in shares of Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock valued at $94,000 after acquiring an additional 237 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Albany International in the first quarter worth approximately $102,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Albany International during the first quarter valued at approximately $128,000. Institutional investors own 97.37% of the company's stock.

Albany International Price Performance

Shares of NYSE:AIN traded up $0.60 on Friday, hitting $81.96. The company's stock had a trading volume of 337,453 shares, compared to its average volume of 160,704. The company has a market capitalization of $2.57 billion, a PE ratio of 25.43, a PEG ratio of 2.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a 50-day simple moving average of $80.02 and a 200 day simple moving average of $84.89. Albany International has a 1 year low of $67.39 and a 1 year high of $99.41.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. During the same period last year, the firm posted $1.02 earnings per share. Albany International's quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Albany International will post 3.18 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.27%. Albany International's payout ratio is 32.50%.

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.