Zacks: Albany International Corp. (AIN) Given Average Rating of “Hold” by Brokerages
Albany International Corp. (NYSE:AIN) has been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Zacks has also given Albany International an industry rank of 206 out of 255 based on the ratings given to its competitors.
A number of research firms have commented on AIN. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered Albany International from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Stephens reissued a “hold” rating on shares of Albany International in a research note on Thursday, August 16th. Finally, Noble Financial reissued a “hold” rating on shares of Albany International in a research note on Wednesday, August 8th.
Albany International (NYSE:AIN) last posted its quarterly earnings data on Monday, August 6th. The textile maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The company had revenue of $256.23 million for the quarter, compared to analyst estimates of $233.50 million. Albany International had a return on equity of 13.03% and a net margin of 6.38%. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities research analysts predict that Albany International will post 2.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Monday, September 10th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.98%. Albany International’s payout ratio is currently 42.24%.
In other news, VP Dawne H. Wimbrow sold 900 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $75.90, for a total transaction of $68,310.00. Following the completion of the sale, the vice president now owns 300 shares in the company, valued at $22,770. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 11.75% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Albany International by 8.5% during the second quarter. BlackRock Inc. now owns 3,986,614 shares of the textile maker’s stock worth $239,795,000 after acquiring an additional 311,334 shares during the last quarter. Earnest Partners LLC raised its position in shares of Albany International by 0.4% during the second quarter. Earnest Partners LLC now owns 1,451,418 shares of the textile maker’s stock worth $87,303,000 after acquiring an additional 6,038 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Albany International by 20.8% during the first quarter. Westwood Holdings Group Inc. now owns 939,145 shares of the textile maker’s stock worth $58,885,000 after acquiring an additional 161,424 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Albany International by 3.2% during the first quarter. Principal Financial Group Inc. now owns 603,989 shares of the textile maker’s stock worth $37,871,000 after acquiring an additional 18,573 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Albany International by 3.6% during the second quarter. Northern Trust Corp now owns 407,740 shares of the textile maker’s stock worth $24,527,000 after acquiring an additional 14,207 shares during the last quarter. Institutional investors own 87.98% of the company’s stock.
Albany International Company Profile
Albany International Corp. engages in textiles and materials processing. It operates through the Machine Clothing and Albany Engineered Composites segments. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement, and several other industrial applications.
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