Albany International (NYSE:AIN) Price Target Lowered to $95.00 at TD Cowen

Albany International (NYSE:AIN) had its price target cut by TD Cowen from $106.00 to $95.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America restated an underperform rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial lowered their target price on Albany International from $121.00 to $104.00 and set a buy rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Albany International presently has a consensus rating of Moderate Buy and a consensus price target of $102.00.

Albany International Stock Up 1.2 %

Shares of AIN stock opened at $84.67 on Wednesday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.18 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99. The stock’s 50 day simple moving average is $90.68 and its 200 day simple moving average is $89.63. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. As a group, research analysts predict that Albany International will post 3.89 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is presently 29.21%.

Insider Activity at Albany International

In other news, CFO Robert D. Starr acquired 1,000 shares of Albany International stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $84.44 per share, for a total transaction of $84,440.00. Following the transaction, the chief financial officer now owns 2,610 shares of the company’s stock, valued at $220,388.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Albany International

A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Albany International in the fourth quarter valued at about $33,273,000. Sei Investments Co. boosted its holdings in Albany International by 37.2% during the fourth quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after purchasing an additional 181,814 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Albany International in the 4th quarter valued at approximately $12,803,000. Envestnet Asset Management Inc. raised its holdings in shares of Albany International by 81.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 284,006 shares of the textile maker’s stock worth $24,504,000 after buying an additional 127,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Albany International by 206.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,601 shares of the textile maker’s stock worth $9,025,000 after buying an additional 70,459 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

About Albany International

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.