Noble Financial initiated coverage on shares of Albany International (NYSE:AIN) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the textile maker’s stock.

Shares of Albany International (NYSE AIN) opened at $63.30 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.49 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2,038.26, a price-to-earnings ratio of 40.84 and a beta of 1.73. Albany International has a twelve month low of $43.45 and a twelve month high of $65.65.

Albany International (NYSE:AIN) last posted its earnings results on Monday, October 30th. The textile maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. The company had revenue of $222.14 million for the quarter. Albany International had a net margin of 5.06% and a return on equity of 9.24%. During the same quarter last year, the business posted $0.41 earnings per share. sell-side analysts anticipate that Albany International will post 1.24 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Tuesday, December 26th were issued a $0.17 dividend. The ex-dividend date was Friday, December 22nd. This represents a $0.68 annualized dividend and a yield of 1.07%. Albany International’s dividend payout ratio (DPR) is presently 51.13%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Albany International by 0.4% in the second quarter. Vanguard Group Inc. now owns 2,580,292 shares of the textile maker’s stock worth $137,788,000 after purchasing an additional 11,228 shares during the period. Dimensional Fund Advisors LP raised its holdings in Albany International by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,559,842 shares of the textile maker’s stock worth $89,535,000 after purchasing an additional 27,610 shares during the period. Earnest Partners LLC raised its holdings in Albany International by 0.4% in the third quarter. Earnest Partners LLC now owns 1,148,523 shares of the textile maker’s stock worth $65,925,000 after purchasing an additional 4,519 shares during the period. State Street Corp raised its holdings in Albany International by 4.8% in the second quarter. State Street Corp now owns 709,687 shares of the textile maker’s stock worth $37,896,000 after purchasing an additional 32,310 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Albany International by 164.4% in the third quarter. Principal Financial Group Inc. now owns 611,838 shares of the textile maker’s stock worth $35,119,000 after purchasing an additional 380,454 shares during the period. Institutional investors own 90.65% of the company’s stock.

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About Albany International

Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.

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