Albany International (NYSE:AIN) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Albany International (NYSE:AIN) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other research firms have also issued reports on AIN. Robert W. Baird lowered shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a research report on Thursday, July 31st. Baird R W lowered shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Truist Financial reaffirmed a “hold” rating and set a $55.00 target price (down previously from $70.00) on shares of Albany International in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.50.

Albany International Price Performance

Shares of NYSE:AIN opened at $57.97 on Monday. 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 capitalization of $1.71 billion, a PE ratio of 28.98, a P/E/G ratio of 1.38 and a beta of 1.36. Albany International has a twelve month low of $50.60 and a twelve month high of $88.13. The company has a 50-day moving average price of $58.82 and a two-hundred day moving average price of $63.90.

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

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s payout ratio is currently 54.00%.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of 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 valued at $119,079,000 after purchasing an additional 464,040 shares in the last quarter. Bank of America Corp DE boosted its position in Albany International by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 1,457,609 shares of the textile maker’s stock valued at $102,222,000 after buying an additional 25,283 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Albany International by 1.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 961,513 shares of the textile maker’s stock valued at $66,383,000 after buying an additional 13,251 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Albany International by 6.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker’s stock valued at $57,369,000 after buying an additional 53,400 shares during the period. Finally, Sei Investments Co. boosted its position in Albany International by 9.3% during the 2nd quarter. Sei Investments Co. now owns 797,414 shares of the textile maker’s stock valued at $55,923,000 after buying an additional 68,079 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

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.