Albany International (AIN) Earns Hold Rating from Analysts at Noble Financial

Noble Financial started coverage on shares of Albany International (NYSE:AIN) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Shares of Albany International (NYSE:AIN) traded up $1.30 during trading hours on Tuesday, hitting $63.30. 75,000 shares of the stock were exchanged, compared to its average volume of 119,162. Albany International has a 1-year low of $43.45 and a 1-year high of $65.65. The company has a quick ratio of 1.76, a current ratio of 2.49 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2,010.00, a PE ratio of 47.59 and a beta of 1.73.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Monday, October 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.15. The firm had revenue of $222.14 million during the quarter. Albany International had a net margin of 5.06% and a return on equity of 9.24%. During the same period in the prior year, the company earned $0.41 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Tuesday, December 26th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, December 22nd. This represents a $0.68 annualized dividend and a yield of 1.07%. Albany International’s dividend payout ratio is currently 51.13%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Albany International by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,376 shares of the textile maker’s stock worth $1,194,000 after purchasing an additional 129 shares in the last quarter. Suntrust Banks Inc. raised its holdings in Albany International by 2.6% during the second quarter. Suntrust Banks Inc. now owns 7,838 shares of the textile maker’s stock worth $417,000 after purchasing an additional 196 shares in the last quarter. First Trust Advisors LP raised its holdings in Albany International by 1.2% during the second quarter. First Trust Advisors LP now owns 24,724 shares of the textile maker’s stock worth $1,320,000 after purchasing an additional 290 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Albany International by 0.7% during the second quarter. Alliancebernstein L.P. now owns 40,355 shares of the textile maker’s stock worth $2,155,000 after purchasing an additional 300 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Albany International by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,353 shares of the textile maker’s stock worth $232,000 after purchasing an additional 651 shares in the last quarter. 90.65% of the stock is owned by hedge funds and other institutional investors.

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About Albany International

Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.

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