Albany International (NYSE:AIN) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Albany International (NYSE:AIN - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other equities research analysts have also recently commented on AIN. JPMorgan Chase & Co. decreased their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Bank of America decreased their target price on Albany International from $90.00 to $80.00 and set an "underperform" rating for the company in a research report on Friday, November 15th. Robert W. Baird cut their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday. TD Cowen raised shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, Truist Financial upped their target price on shares of Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

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Albany International Trading Down 4.8 %

Shares of NYSE AIN traded down $3.64 during mid-day trading on Friday, hitting $71.35. The company's stock had a trading volume of 221,176 shares, compared to its average volume of 172,565. Albany International has a one year low of $67.39 and a one year high of $97.60. The company's fifty day simple moving average is $80.33 and its 200-day simple moving average is $81.32. 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 stock has a market cap of $2.23 billion, a price-to-earnings ratio of 22.30 and a beta of 1.34.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. On average, sell-side analysts anticipate that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, March 21st. Albany International's dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Albany International

Several institutional investors and hedge funds have recently modified their holdings of AIN. Public Employees Retirement System of Ohio bought a new position in Albany International in the fourth quarter valued at approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Albany International by 20.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,640 shares of the textile maker's stock worth $4,450,000 after acquiring an additional 9,492 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of Albany International by 88.9% during the fourth quarter. Voloridge Investment Management LLC now owns 105,991 shares of the textile maker's stock worth $8,476,000 after acquiring an additional 49,873 shares during the period. Squarepoint Ops LLC bought a new stake in Albany International in the 4th quarter valued at $4,304,000. Finally, ProShare Advisors LLC boosted its stake in Albany International by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 9,408 shares of the textile maker's stock worth $752,000 after purchasing an additional 2,897 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.