Albany International (NYSE:AIN) Trading Down 8.1%

Albany International Corp. (NYSE:AIN)’s stock price fell 8.1% during mid-day trading on Tuesday . The stock traded as low as $80.63 and last traded at $81.19. Approximately 120,921 shares changed hands during trading, a decline of 13% from the average session volume of 138,497 shares. The stock had previously closed at $88.30.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AIN. Bank of America restated an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial raised their price target on shares of Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.50.

Albany International Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. The firm’s 50 day moving average price is $91.45 and its 200-day moving average price is $89.74. The firm has a market capitalization of $2.49 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, research analysts expect that Albany International Corp. will post 3.93 EPS for the current year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

Institutional Investors Weigh In On Albany International

Large investors have recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Albany International in the third quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of Albany International during the 4th quarter worth approximately $47,000. Principal Securities Inc. purchased a new stake in shares of Albany International in the fourth quarter valued at approximately $77,000. Adirondack Trust Co. acquired a new stake in shares of Albany International in the third quarter valued at approximately $86,000. Finally, TFO Wealth Partners LLC lifted its position in Albany International by 109,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after buying an additional 1,091 shares in the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.