Albany International’s (AIN) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c-) rating on shares of Albany International (NYSE:AIN) in a research report released on Wednesday morning,Weiss Ratings reports.

Other analysts have also issued research reports about the company. Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a report on Thursday, July 31st. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, Truist Financial restated a “hold” rating and issued a $55.00 price objective (down previously from $70.00) on shares of Albany International in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Albany International currently has an average rating of “Hold” and an average price target of $69.00.

Albany International Trading Down 2.3%

Shares of Albany International stock opened at $53.69 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. The business has a fifty day simple moving average of $59.41 and a 200-day simple moving average of $64.53. Albany International has a fifty-two week low of $50.60 and a fifty-two week high of $88.13.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. The business had revenue of $239.92 million during the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%. On average, equities analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s dividend payout ratio is currently 54.00%.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in Albany International by 37.6% in the 2nd quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker’s stock worth $119,079,000 after acquiring an additional 464,040 shares in the last quarter. Bank of America Corp DE lifted its stake in Albany International by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 1,457,609 shares of the textile maker’s stock worth $102,222,000 after acquiring an additional 25,283 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Albany International by 1.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 961,513 shares of the textile maker’s stock worth $66,383,000 after acquiring an additional 13,251 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Albany International by 6.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker’s stock worth $57,369,000 after acquiring an additional 53,400 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Albany International by 9.3% in the 2nd quarter. Sei Investments Co. now owns 797,414 shares of the textile maker’s stock worth $55,923,000 after acquiring an additional 68,079 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.