Robert W. Baird Has Lowered Expectations for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN - Free Report) had its price target trimmed by Robert W. Baird from $104.00 to $92.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the textile maker's stock.

AIN has been the topic of several other reports. Bank of America cut their target price on shares of Albany International from $90.00 to $80.00 and set an "underperform" rating on the stock in a research note on Friday, November 15th. TD Cowen raised shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Truist Financial increased their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Albany International Trading Down 2.1 %

Shares of NYSE:AIN traded down $1.58 during trading on Friday, reaching $74.99. The stock had a trading volume of 353,447 shares, compared to its average volume of 175,691. The firm's fifty day moving average is $80.43 and its 200 day moving average is $81.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a 52 week low of $67.39 and a 52 week high of $97.60. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 23.43 and a beta of 1.34.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 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 firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. As a group, equities analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, March 21st. Albany International's dividend payout ratio (DPR) is 38.71%.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP raised its holdings in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker's stock valued at $43,000 after purchasing an additional 402 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Albany International in the fourth quarter valued at about $40,000. Smartleaf Asset Management LLC raised its holdings in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after purchasing an additional 503 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Albany International in the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

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.