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

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other analysts have also recently commented on the company. Truist Financial raised their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America lowered their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.25.

Albany International Stock Performance

Shares of AIN opened at $80.94 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a 1 year low of $67.39 and a 1 year high of $98.73. The firm has a fifty day moving average of $81.41 and a 200-day moving average of $83.10. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 25.29 and a beta of 1.35.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. During the same period in the previous year, the business posted $1.02 EPS. Albany International’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Albany International will post 3.23 earnings per share for the current year.

Albany International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from Albany International’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 1.33%. Albany International’s dividend payout ratio (DPR) is 33.75%.

Insider Transactions at Albany International

In other Albany International news, SVP Robert Alan Hansen acquired 1,050 shares of the stock in a transaction dated Tuesday, November 5th. The shares were bought at an average price of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. This trade represents a 14.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gunnar Kleveland bought 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.25 per share, with a total value 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. The trade was a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 3,450 shares of company stock valued at $245,813. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AIN. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Albany International during the 4th quarter worth $226,000. Diversified Trust Co boosted its position in shares of Albany International by 5.4% in the 4th quarter. Diversified Trust Co now owns 10,701 shares of the textile maker’s stock valued at $856,000 after purchasing an additional 551 shares during the period. Central Pacific Bank Trust Division increased its stake in Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 320 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Albany International by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after buying an additional 9,931 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after buying an additional 36,274 shares during the period. Institutional investors 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.