Shares of Albany International Corp. (NYSE:AIN) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $71.20.
AIN has been the subject of several recent analyst reports. TheStreet raised Albany International from a “c+” rating to a “b-” rating in a research note on Tuesday, November 3rd. Zacks Investment Research cut Albany International from a “hold” rating to a “sell” rating in a research note on Thursday, February 18th. Finally, Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $70.00 to $79.00 in a research note on Monday, January 11th.
In related news, SVP Robert Alan Hansen sold 600 shares of Albany International stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $80.27, for a total value of $48,162.00. Following the completion of the transaction, the senior vice president now directly owns 13,404 shares in the company, valued at $1,075,939.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David M. Pawlick sold 2,000 shares of Albany International stock in a transaction on Friday, February 19th. The shares were sold at an average price of $79.29, for a total value of $158,580.00. Following the completion of the transaction, the vice president now owns 2,314 shares of the company’s stock, valued at $183,477.06. The disclosure for this sale can be found here. Company insiders own 5.73% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AIN. Assenagon Asset Management S.A. purchased a new stake in Albany International during the 3rd quarter worth about $227,000. Envestnet Asset Management Inc. lifted its holdings in Albany International by 28.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 73,815 shares of the textile maker’s stock worth $3,655,000 after buying an additional 16,511 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Albany International by 70.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the textile maker’s stock worth $703,000 after buying an additional 5,850 shares during the last quarter. CWM LLC purchased a new stake in Albany International during the 3rd quarter worth about $25,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Albany International during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.
AIN stock traded up $1.14 during midday trading on Tuesday, hitting $83.36. 7,230 shares of the company’s stock were exchanged, compared to its average volume of 135,549. The business has a 50-day simple moving average of $75.24 and a two-hundred day simple moving average of $63.08. The company has a current ratio of 3.80, a quick ratio of 3.17 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $2.69 billion, a PE ratio of 26.61 and a beta of 1.39. Albany International has a 1-year low of $30.46 and a 1-year high of $82.99.
Albany International (NYSE:AIN) last posted its earnings results on Tuesday, February 9th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.23. Albany International had a return on equity of 17.39% and a net margin of 10.76%. As a group, research analysts expect that Albany International will post 3.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Stockholders of record on Friday, March 19th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.96%. Albany International’s payout ratio is presently 19.46%.
About Albany International
Albany International Corp. engages in the textile and materials processing 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 manufacturing papers, paperboards, tissues, and towels.
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