Albany International Corporation (NYSE:AIN) Given Average Rating of "Moderate Buy" by Analysts

Albany International Corporation (NYSE:AIN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $79.00.

Several brokerages have weighed in on AIN. Truist Financial reduced their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. boosted their price objective on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Bank of America reduced their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research note on Monday, June 2nd. Finally, Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AIN. Bank of New York Mellon Corp boosted its position in shares of Albany International by 3.1% during the fourth quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock valued at $24,381,000 after buying an additional 9,091 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Albany International during the fourth quarter valued at approximately $1,509,000. Smartleaf Asset Management LLC boosted its position in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after buying an additional 503 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Albany International by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,036 shares of the textile maker's stock valued at $34,070,000 after buying an additional 28,061 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Albany International during the fourth quarter valued at approximately $19,349,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Trading Up 1.9%

Shares of AIN stock opened at $71.87 on Thursday. Albany International has a 12-month low of $57.71 and a 12-month high of $95.47. The company has a current ratio of 3.70, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $67.15 and its 200-day moving average price is $72.60. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.62 and a beta of 1.31.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The business's revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.50%. Albany International's dividend payout ratio (DPR) is presently 43.55%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.