Albany International (NYSE:AIN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research note published on Wednesday.

Several other equities research analysts also recently commented on AIN. TD Cowen cut their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Truist Financial reduced their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.50.

Albany International Stock Down 0.5 %

Shares of NYSE:AIN opened at $80.09 on Wednesday. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41. The company has a market capitalization of $2.51 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a fifty day moving average of $79.06 and a 200-day moving average of $84.66.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, equities analysts predict that Albany International will post 3.2 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Insider Transactions at Albany International

In other Albany International news, VP Joseph M. Gaug bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now directly owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This trade represents a 17.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gunnar Kleveland purchased 1,400 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $71.25 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,450 shares of company stock worth $245,813 over the last three months. 0.76% of the stock is owned by company insiders.

Institutional Trading of Albany International

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Albany International by 5,971.5% during the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after acquiring an additional 672,631 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after purchasing an additional 60,812 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after buying an additional 53,743 shares during the period. Dimensional Fund Advisors LP increased its position in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after buying an additional 52,909 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Albany International by 176.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after buying an additional 42,740 shares during the period. Institutional investors and hedge funds 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.