Zacks Investment Research cut shares by Albany International (NYSE:AIN – Get Note) from a hold rating to a sell rating in a report released Tuesday morning, Zacks.com reports.
According to Zacks, “Albany International Corp. is a global textile and advanced materials processing company. Albany International has two main businesses. The Machine Clothing segment is the world’s leading producer of production-critical custom fabrics and belts in the paper, nonwovens and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, fabrics softer, and aircraft engines and structures lighter. “
A number of other stock analysts have also recently released reports on AIN. StockNews.com launched coverage on Albany International shares in a Thursday, March 31 report. They issued a buy rating on the stock. Truist Financial moved shares of Albany International from a hold rating to a buy rating and raised its price target for the company from $85.00 to $100.00 in a Friday, Jan. 7 report. . Finally, Bank of America reaffirmed a neutral rating and set a price target of $90.00 (from $105.00 previously) on Albany International shares in a Tuesday, February 22 report. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and two have assigned the company’s stock a buy rating. According to MarketBeat.com, Albany International currently has a consensus rating of Hold and a consensus target price of $95.33.
AIN opened at $79.48 on Tuesday. The company has a debt ratio of 0.49, a quick ratio of 3.73 and a current ratio of 4.43. The stock has a market capitalization of $2.53 billion, a P/E ratio of 21.66, a growth price/earnings ratio of 4.53 and a beta of 1.30. The company has a 50-day simple moving average of $83.78. Albany International has a 12-month low of $74.17 and a 12-month high of $93.43.
Albany International (NYSE:AIN – Get Rating) last released quarterly earnings data on Monday, April 25. The textile maker reported earnings per share (EPS) of $0.91 for the quarter, beating analysts’ consensus estimate of $0.77 by $0.14. Albany International had a net margin of 12.47% and a return on equity of 13.36%. During the same period of the previous year, the company achieved EPS of $0.87. As a group, research analysts predict Albany International will post an EPS of 3.15 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 7. Investors of record on Monday, March 21 received a dividend of $0.21 per share. The ex-dividend date was Friday, March 18. This represents a dividend of $0.84 on an annualized basis and a dividend yield of 1.06%. Albany International’s dividend payout ratio is 22.89%.
Several large investors have recently changed their holdings of AIN. Morgan Stanley increased its position in Albany International shares by 39.7% during the second quarter. Morgan Stanley now owns 106,915 shares of the textile maker worth $9,542,000 after acquiring 30,402 more shares in the last quarter. Victory Capital Management Inc. increased its position in Albany International shares by 6.2% during the third quarter. Victory Capital Management Inc. now owns 7,535 shares of the textile maker worth $579,000 after acquiring 437 additional shares in the last quarter. Raymond James & Associates increased its position in Albany International shares by 1.8% during the third quarter. Raymond James & Associates now owns 107,740 shares of the textile maker worth $8,282,000 after acquiring 1,934 additional shares in the last quarter. PNC Financial Services Group Inc. increased its position in Albany International shares by 52.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,787 shares of the textile maker worth $215,000 after acquiring 955 additional shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in Albany International shares by 3.3% during the third quarter. Advisor Group Holdings Inc. now owns 12,391 shares of the textile maker worth $954,000 after acquiring 395 additional shares in the last quarter. Hedge funds and other institutional investors own 99.64% of the company’s shares.
Albany International Company Profile (Get a rating)
Albany International Corp., together with its subsidiaries, is engaged in the textile and materials processing industry. The Company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures and markets paper machine garments for use in the manufacture of paper, board, tissue and napkins.
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