Albany International (NYSE:AIN) Given New $50.00 Price Target at Truist Financial

Albany International (NYSE:AIN) had its price target trimmed by Truist Financial from $55.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a hold rating on the textile maker’s stock.

Several other equities analysts also recently commented on the stock. Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upped their price target on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Baird R W downgraded shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. Finally, Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.25.

Albany International Stock Performance

NYSE AIN traded down $6.09 during trading on Friday, reaching $47.91. 850,215 shares of the company’s stock were exchanged, compared to its average volume of 277,735. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The business has a 50 day moving average price of $57.02 and a 200-day moving average price of $63.28. The stock has a market capitalization of $1.41 billion, a P/E ratio of 23.96, a PEG ratio of 1.36 and a beta of 1.39. Albany International has a fifty-two week low of $47.65 and a fifty-two week high of $88.13.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The company had revenue of $239.92 million during the quarter. Sell-side analysts forecast that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.3%. Albany International’s dividend payout ratio is currently -55.67%.

Institutional Trading of Albany International

A number of institutional investors have recently modified their holdings of AIN. Principal Financial Group Inc. lifted its position in shares of Albany International by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 156,089 shares of the textile maker’s stock worth $10,776,000 after buying an additional 2,549 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Albany International by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 274,923 shares of the textile maker’s stock worth $18,981,000 after acquiring an additional 1,904 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of Albany International by 16.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 8,179 shares of the textile maker’s stock worth $565,000 after acquiring an additional 1,165 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Albany International by 38.3% in the 1st quarter. Dakota Wealth Management now owns 12,883 shares of the textile maker’s stock valued at $889,000 after purchasing an additional 3,570 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Albany International by 6.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker’s stock valued at $57,369,000 after purchasing an additional 53,400 shares during the last quarter. 97.37% of the stock is currently 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.