Albany International (NYSE:AIN) Announces Quarterly Earnings Results

Albany International (NYSE:AINGet Free Report) announced its quarterly earnings results on Tuesday. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38, Briefing.com reports. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. During the same quarter in the previous year, the business earned $0.75 EPS. Albany International’s revenue was up 20.4% compared to the same quarter last year. Albany International updated its FY 2024 guidance to 3.550-4.050 EPS.

Albany International Trading Down 1.7 %

NYSE AIN opened at $92.93 on Thursday. Albany International has a 12 month low of $78.20 and a 12 month high of $102.29. The stock’s fifty day moving average price is $91.93 and its 200-day moving average price is $88.96. The stock has a market cap of $2.90 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.69 and a beta of 1.27. The company has a current ratio of 3.53, a quick ratio of 2.78 and a debt-to-equity ratio of 0.47.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be given a $0.26 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.12%. Albany International’s dividend payout ratio is currently 29.30%.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Albany International by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 12,677 shares of the textile maker’s stock valued at $1,183,000 after purchasing an additional 124 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Albany International by 1.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,806 shares of the textile maker’s stock valued at $1,262,000 after purchasing an additional 124 shares during the period. Captrust Financial Advisors lifted its stake in Albany International by 9.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,512 shares of the textile maker’s stock worth $119,000 after purchasing an additional 132 shares in the last quarter. FMR LLC boosted its holdings in shares of Albany International by 9.0% during the 1st quarter. FMR LLC now owns 2,090 shares of the textile maker’s stock valued at $187,000 after purchasing an additional 173 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Albany International by 3.9% during the first quarter. Guggenheim Capital LLC now owns 6,716 shares of the textile maker’s stock valued at $567,000 after purchasing an additional 249 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AIN. Truist Financial lifted their price target on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, TheStreet upgraded shares of Albany International from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $115.67.

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Albany International Company Profile

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Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, nonwovens, building products, tannery, and textiles.

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Earnings History for Albany International (NYSE:AIN)

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