Albany International (AIN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Albany International (NYSE:AIN) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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. “

Several other research firms also recently commented on AIN. Robert W. Baird began coverage on Albany International in a report on Friday, February 22nd. They issued an outperform rating and a $93.00 price objective for the company. Sidoti cut their price objective on Albany International from $80.00 to $77.00 and set a neutral rating for the company in a report on Monday, December 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $83.00.

NYSE AIN opened at $74.10 on Tuesday. The company has a market capitalization of $2.35 billion, a PE ratio of 28.83 and a beta of 1.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.13 and a quick ratio of 2.68. Albany International has a 12 month low of $57.95 and a 12 month high of $82.20.

Albany International (NYSE:AIN) last released its quarterly earnings data on Monday, February 11th. The textile maker reported $0.54 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.09). The company had revenue of $251.61 million during the quarter, compared to analyst estimates of $251.50 million. Albany International had a net margin of 8.72% and a return on equity of 14.79%. On average, sell-side analysts forecast that Albany International will post 3.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Monday, March 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, March 15th. Albany International’s payout ratio is presently 28.02%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Albany International by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,937,817 shares of the textile maker’s stock valued at $233,557,000 after acquiring an additional 117,943 shares during the period. Vanguard Group Inc raised its stake in Albany International by 4.2% in the 3rd quarter. Vanguard Group Inc now owns 2,937,817 shares of the textile maker’s stock valued at $233,557,000 after acquiring an additional 117,943 shares during the period. Bank of New York Mellon Corp raised its stake in Albany International by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 472,859 shares of the textile maker’s stock valued at $37,593,000 after acquiring an additional 33,347 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Albany International by 3.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 458,752 shares of the textile maker’s stock valued at $28,639,000 after acquiring an additional 15,860 shares during the period. Finally, Geode Capital Management LLC raised its stake in Albany International by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 300,404 shares of the textile maker’s stock valued at $18,754,000 after acquiring an additional 12,330 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Albany International Company Profile

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.

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