Zacks Investment Research cut shares of Albany International (NYSE:AIN) from a hold rating to a sell rating in a research report report published on Monday.
According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production 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, tissue softer, and aircraft engines and structures lighter. “
A number of other research analysts also recently issued reports on the stock. Stephens assumed coverage on shares of Albany International in a research report on Tuesday, March 6th. They set a weight rating and a $64.00 target price for the company. ValuEngine upgraded shares of Albany International from a hold rating to a buy rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Albany International currently has a consensus rating of Hold and an average target price of $64.00.
NYSE AIN opened at $62.70 on Monday. The firm has a market cap of $2.00 billion, a P/E ratio of 38.94 and a beta of 1.58. Albany International has a 1 year low of $49.20 and a 1 year high of $68.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.24 and a quick ratio of 2.67.
Albany International (NYSE:AIN) last posted its earnings results on Monday, May 7th. The textile maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $229.98 million during the quarter, compared to the consensus estimate of $228.50 million. Albany International had a net margin of 3.39% and a return on equity of 9.61%. During the same period in the previous year, the firm posted $0.46 earnings per share. equities analysts predict that Albany International will post 2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Shareholders of record on Thursday, June 7th will be given a $0.17 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Albany International’s dividend payout ratio (DPR) is currently 42.24%.
Several institutional investors have recently modified their holdings of the business. Flinton Capital Management LLC raised its position in shares of Albany International by 27.8% in the fourth quarter. Flinton Capital Management LLC now owns 3,864 shares of the textile maker’s stock worth $237,000 after acquiring an additional 840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Albany International by 63.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the textile maker’s stock worth $139,000 after acquiring an additional 858 shares during the period. Teachers Advisors LLC raised its position in shares of Albany International by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 52,024 shares of the textile maker’s stock worth $3,197,000 after acquiring an additional 943 shares during the period. Prudential Financial Inc. raised its position in shares of Albany International by 2.0% in the first quarter. Prudential Financial Inc. now owns 48,953 shares of the textile maker’s stock worth $3,069,000 after acquiring an additional 950 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Albany International by 19.3% in the first quarter. SG Americas Securities LLC now owns 6,872 shares of the textile maker’s stock worth $431,000 after acquiring an additional 1,112 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.
About Albany International
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.