Albany International (NYSE:AIN) PT Lowered to $95.00 at TD Cowen

Albany International (NYSE:AIN) had its target price trimmed by TD Cowen from $106.00 to $95.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other equities analysts have also recently issued reports on AIN. Truist Financial cut their price objective on Albany International from $121.00 to $104.00 and set a buy rating for the company in a report on Wednesday. Bank of America reaffirmed an underperform rating and set a $95.00 price objective (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $102.00.

Albany International Stock Performance

NYSE:AIN opened at $84.65 on Wednesday. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a quick ratio of 2.85, a current ratio of 3.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.64 billion, a P/E ratio of 23.78, a PEG ratio of 2.11 and a beta of 1.28. The business’s 50-day moving average price is $90.68 and its two-hundred day moving average price is $89.60.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. Albany International’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, equities analysts predict that Albany International will post 3.93 EPS for the current fiscal 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is currently 29.21%.

Insider Activity

In other Albany International news, CFO Robert D. Starr bought 1,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $84.44 per share, with a total value of $84,440.00. Following the completion of the purchase, the chief financial officer now owns 2,610 shares of the company’s stock, valued at $220,388.40. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently added to or reduced their stakes in AIN. Arizona State Retirement System boosted its stake in Albany International by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 8,883 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 129 shares during the last quarter. HighTower Advisors LLC grew its position in Albany International by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock worth $1,401,000 after purchasing an additional 156 shares during the period. MQS Management LLC raised its stake in Albany International by 2.4% during the 3rd quarter. MQS Management LLC now owns 6,584 shares of the textile maker’s stock valued at $568,000 after buying an additional 156 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Albany International by 4.9% during the 3rd quarter. Inspire Investing LLC now owns 3,543 shares of the textile maker’s stock valued at $306,000 after buying an additional 167 shares during the period. Finally, Strs Ohio boosted its stake in shares of Albany International by 22.2% in the 4th quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after buying an additional 200 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

About Albany International

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.