Albany International (NYSE:AIN - Free Report) had its price target hoisted by Truist Financial from $85.00 to $88.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the textile maker's stock.
Other research analysts have also issued reports about the stock. Bank of America decreased their price target 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. StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, December 13th. Finally, TD Cowen raised Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Albany International presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.25.
View Our Latest Report on AIN
Albany International Price Performance
Shares of NYSE:AIN traded up $1.16 during trading on Tuesday, reaching $80.94. 174,826 shares of the company's stock traded hands, compared to its average volume of 213,403. The firm has a market cap of $2.53 billion, a PE ratio of 25.29 and a beta of 1.35. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $98.73. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $81.41 and a 200-day simple moving average of $83.10.
Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating 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 business had revenue of $298.40 million during the quarter, compared to analysts' expectations of $304.51 million. During the same period in the previous year, the business earned $1.02 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Albany International will post 3.23 earnings per share for the current year.
Albany International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Albany International's previous quarterly dividend of $0.26. Albany International's dividend payout ratio (DPR) is presently 33.75%.
Insider Buying and Selling at Albany International
In other news, CEO Gunnar Kleveland bought 1,400 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. The trade was a 20.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph M. Gaug purchased 1,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.24 per share, with a total value of $71,240.00. Following the acquisition, the vice president now directly owns 6,811 shares in the company, valued at $485,215.64. This represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 3,450 shares of company stock valued at $245,813 over the last quarter. 0.76% of the stock is owned by company insiders.
Institutional Trading of Albany International
Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Albany International by 24.0% in the 3rd quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker's stock valued at $75,330,000 after buying an additional 163,934 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Albany International by 60.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker's stock valued at $14,335,000 after acquiring an additional 60,812 shares in the last quarter. Earnest Partners LLC boosted its stake in Albany International by 2.1% in the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker's stock valued at $218,961,000 after acquiring an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker's stock worth $92,192,000 after purchasing an additional 52,909 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Albany International by 176.9% during the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker's stock worth $5,650,000 after purchasing an additional 42,740 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.
About Albany International
(
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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.
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