Albany International Corporation (NYSE:AIN) Receives $61.50 Consensus PT from Analysts

Shares of Albany International Corporation (NYSE:AIN) have been assigned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $61.50.

AIN has been the topic of several research reports. Zacks Research lowered Albany International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Truist Financial set a $55.00 target price on Albany International in a report on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Albany International from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Albany International in a research report on Monday, December 29th.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in Albany International by 39.3% in the 4th quarter. CWM LLC now owns 712 shares of the textile maker’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Albany International by 227.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock worth $38,000 after buying an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Albany International by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 174 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 270 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Albany International during the 3rd quarter worth approximately $66,000. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 1.3%

Shares of AIN opened at $59.42 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of -30.63, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The company has a quick ratio of 1.84, a current ratio of 2.34 and a debt-to-equity ratio of 0.65. Albany International has a fifty-two week low of $41.15 and a fifty-two week high of $83.65. The company’s fifty day moving average is $55.22 and its two-hundred day moving average is $55.48.

Albany International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Tuesday, December 16th were given a $0.28 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. This is a boost from Albany International’s previous quarterly dividend of $0.27. Albany International’s payout ratio is presently -57.73%.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.