Albany International (NYSE:AIN) Hits New 1-Year High at $87.16

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Albany International Corp. (NYSE:AIN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $87.16 and last traded at $86.81, with a volume of 7689 shares traded. The stock had previously closed at $85.67.

A number of equities research analysts recently commented on AIN shares. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective on the stock in a research note on Friday, August 2nd. Noble Financial reissued a “hold” rating on shares of Albany International in a research note on Sunday, August 4th. Cowen initiated coverage on Albany International in a report on Monday, August 19th. They set a “market perform” rating and a $85.00 target price on the stock. Finally, Alembic Global Advisors began coverage on Albany International in a research note on Friday, June 28th. They issued a “neutral” rating and a $90.00 target price for the company. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $88.60.

The stock’s 50 day simple moving average is $81.83 and its two-hundred day simple moving average is $77.19. The company has a market capitalization of $2.68 billion, a P/E ratio of 34.04 and a beta of 1.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.19 and a quick ratio of 2.66.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.24. Albany International had a net margin of 10.59% and a return on equity of 17.42%. The business had revenue of $273.95 million for the quarter, compared to analysts’ expectations of $267.75 million. As a group, equities research analysts expect that Albany International Corp. will post 3.44 earnings per share for the current year.

The company also recently disclosed a — dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.18 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 6th. Albany International’s dividend payout ratio is 28.02%.

A number of institutional investors and hedge funds have recently made changes to their positions in AIN. Bogle Investment Management L P DE acquired a new stake in shares of Albany International during the 2nd quarter worth approximately $2,686,000. Chicago Equity Partners LLC bought a new position in Albany International in the second quarter valued at approximately $1,326,000. Crossmark Global Holdings Inc. grew its holdings in Albany International by 5.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,742 shares of the textile maker’s stock worth $339,000 after acquiring an additional 240 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Albany International by 576.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,681 shares of the textile maker’s stock worth $478,000 after acquiring an additional 5,693 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Albany International by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 718,310 shares of the textile maker’s stock worth $51,425,000 after acquiring an additional 3,648 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Albany International Company Profile (NYSE:AIN)

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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