Albany International (NYSE:AIN) Shares Gap Down to $96.49

Albany International Corp. (NYSE:AIN) shares gapped down prior to trading on Thursday . The stock had previously closed at $96.49, but opened at $94.26. Albany International shares last traded at $93.46, with a volume of 11,603 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on AIN. Truist Financial lifted their price target on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. TheStreet raised shares of Albany International from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Bank of America reaffirmed an “underperform” rating and set a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research report on Thursday. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Albany International currently has an average rating of “Moderate Buy” and an average price target of $110.50.

Albany International Stock Down 3.4 %

The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $91.82 and a 200 day moving average of $89.23. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 3.67 and a beta of 1.26.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts expect that Albany International Corp. will post 3.9 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, March 14th. Albany International’s dividend payout ratio is presently 29.30%.

Institutional Investors Weigh In On Albany International

Large investors have recently modified their holdings of the business. Morgan Stanley grew its stake in Albany International by 74.2% in the third quarter. Morgan Stanley now owns 890,785 shares of the textile maker’s stock valued at $76,857,000 after purchasing an additional 379,367 shares in the last quarter. Norges Bank acquired a new stake in Albany International during the 4th quarter worth approximately $33,273,000. Champlain Investment Partners LLC grew its holdings in Albany International by 38.1% in the 2nd quarter. Champlain Investment Partners LLC now owns 670,315 shares of the textile maker’s stock valued at $62,527,000 after buying an additional 184,930 shares in the last quarter. Sei Investments Co. boosted its holdings in Albany International by 37.2% in the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after purchasing an additional 181,814 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Albany International by 63.3% during the 4th quarter. Nuveen Asset Management LLC now owns 359,905 shares of the textile maker’s stock worth $35,350,000 after purchasing an additional 139,522 shares in the last quarter. 97.37% of the stock is currently owned by 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.