Albany International (NYSE:AIN) Shares Down 8.1%

Shares of Albany International Corp. (NYSE:AIN - Get Free Report) were down 8.1% during trading on Tuesday . The stock traded as low as $80.63 and last traded at $81.19. Approximately 120,921 shares were traded during trading, a decline of 13% from the average daily volume of 138,497 shares. The stock had previously closed at $88.30.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIN. Truist Financial lifted their price objective on shares of Albany International from $105.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Bank of America reaffirmed an "underperform" rating and issued a $95.00 price target (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.50.

Albany International Trading Down 9.7 %

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The company's fifty day moving average price is $91.20 and its 200-day moving average price is $89.71.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The business had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the prior year, the business posted $0.91 EPS. Albany International's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts expect that Albany International Corp. will post 3.93 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a yield of 1.30%. Albany International's dividend payout ratio is currently 29.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AIN. Essex Financial Services Inc. boosted its holdings in shares of Albany International by 11.3% in the 1st quarter. Essex Financial Services Inc. now owns 6,098 shares of the textile maker's stock valued at $570,000 after acquiring an additional 620 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Albany International by 263.4% in the first quarter. Assenagon Asset Management S.A. now owns 77,510 shares of the textile maker's stock valued at $7,248,000 after purchasing an additional 56,179 shares during the last quarter. Raymond James & Associates grew its position in Albany International by 4.7% during the 1st quarter. Raymond James & Associates now owns 120,109 shares of the textile maker's stock worth $11,231,000 after purchasing an additional 5,400 shares during the period. Diversified Trust Co raised its stake in shares of Albany International by 26.8% during the 1st quarter. Diversified Trust Co now owns 8,750 shares of the textile maker's stock valued at $818,000 after buying an additional 1,850 shares during the last quarter. Finally, Gilman Hill Asset Management LLC lifted its holdings in shares of Albany International by 92.4% in the 1st quarter. Gilman Hill Asset Management LLC now owns 40,298 shares of the textile maker's stock valued at $3,768,000 after buying an additional 19,350 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

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.