Albany International (NYSE:AIN) Sees Strong Trading Volume

Shares of Albany International Corp. (NYSE:AIN - Get Free Report) saw an uptick in trading volume on Thursday . 334,453 shares changed hands during trading, an increase of 151% from the previous session's volume of 133,164 shares.The stock last traded at $90.93 and had previously closed at $88.79.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America reissued an "underperform" rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. Truist Financial boosted their price objective on Albany International from $105.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Finally, StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.50.

Albany International Stock Up 2.7 %

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 stock has a market capitalization of $2.84 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.30 and a beta of 1.25. The stock has a fifty day moving average price of $92.01 and a 200 day moving average price of $89.47.

Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The business had revenue of $323.60 million during the quarter, compared to analyst estimates of $298.17 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The company's quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Albany International Corp. will post 3.9 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International's payout ratio is 29.30%.

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIN. Earnest Partners LLC boosted its position in shares of Albany International by 2.0% during the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker's stock valued at $201,512,000 after acquiring an additional 45,158 shares during the last quarter. Swiss National Bank grew its stake in Albany International by 1.0% in the 3rd quarter. Swiss National Bank now owns 68,600 shares of the textile maker's stock worth $5,919,000 after buying an additional 700 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Albany International by 12.7% in the 3rd quarter. Sei Investments Co. now owns 488,258 shares of the textile maker's stock worth $42,127,000 after buying an additional 55,021 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Albany International by 12.1% during the 3rd quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker's stock valued at $40,395,000 after buying an additional 50,653 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Albany International by 4.9% during the 3rd quarter. Northern Trust Corp now owns 440,156 shares of the textile maker's stock worth $37,977,000 after acquiring an additional 20,553 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.