Albany International Corp. (NYSE:AIN) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Albany International Corp. (NYSE:AIN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $80.40.

Several research analysts have recently weighed in on AIN shares. Bank of America decreased their price objective on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. Robert W. Baird dropped their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, Truist Financial decreased their price target on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th.

Albany International Stock Up 2.8 %

AIN traded up $1.74 during trading on Friday, reaching $64.66. The stock had a trading volume of 94,371 shares, compared to its average volume of 203,599. The stock's 50 day moving average is $70.91 and its two-hundred day moving average is $76.32. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 20.23 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 has a one year low of $57.71 and a one year high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $286.91 million during the quarter, compared to analysts' expectations of $299.52 million. As a group, analysts expect that Albany International will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Friday, March 21st. Albany International's dividend payout ratio (DPR) is 38.71%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its position in shares of Albany International by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 42,662 shares of the textile maker's stock valued at $2,945,000 after buying an additional 1,979 shares during the last quarter. Blue Trust Inc. lifted its stake in Albany International by 48.7% in the 1st quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock worth $212,000 after purchasing an additional 1,004 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Albany International by 20.2% during the 1st quarter. QRG Capital Management Inc. now owns 4,089 shares of the textile maker's stock valued at $282,000 after purchasing an additional 686 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Albany International by 11.5% during the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock valued at $229,000 after purchasing an additional 342 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of Albany International by 12.2% in the first quarter. Procyon Advisors LLC now owns 5,119 shares of the textile maker's stock worth $353,000 after buying an additional 556 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other 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.