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

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

AIN has been the topic of several other reports. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Truist Financial restated a “hold” rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. boosted their price target on Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.50.

Albany International Trading Down 0.2%

Albany International stock opened at $60.30 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The business’s 50-day simple moving average is $58.54 and its 200-day simple moving average is $63.87. The firm has a market capitalization of $1.78 billion, a PE ratio of 30.15, a PEG ratio of 1.44 and a beta of 1.36. Albany International has a 52 week low of $50.60 and a 52 week high of $88.13.

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

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s payout ratio is presently 54.00%.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently added to or reduced their stakes in AIN. American Century Companies Inc. boosted its holdings in Albany International by 37.6% during the second 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. Nuveen LLC acquired a new position in shares of Albany International in the 1st quarter worth approximately $18,985,000. Select Equity Group L.P. boosted its holdings in shares of Albany International by 784.2% in the 1st quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker’s stock worth $8,717,000 after acquiring an additional 111,983 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Albany International in the 1st quarter worth approximately $7,468,000. Finally, Millennium Management LLC boosted its holdings in shares of Albany International by 464.4% in the 1st quarter. Millennium Management LLC now owns 91,934 shares of the textile maker’s stock worth $6,347,000 after acquiring an additional 75,644 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.