Albany International (NYSE:AIN – Get Rating) issued an update on its FY22 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.50-3.80 for the period, compared to the consensus earnings per share estimate of $3.66. The company issued revenue guidance of $0.99-1.015 billion, compared to the consensus revenue estimate of $998.10 million.
Albany International Stock Up 1.2 %
Shares of AIN traded up $1.01 during mid-day trading on Monday, reaching $88.00. The company had a trading volume of 125,461 shares, compared to its average volume of 140,272. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.73 and a current ratio of 4.44. The firm has a 50-day moving average price of $86.03 and a 200 day moving average price of $83.77. Albany International has a 52 week low of $75.24 and a 52 week high of $97.73. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 3.48 and a beta of 1.27.
Albany International (NYSE:AIN – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The textile maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.27. Albany International had a return on equity of 13.57% and a net margin of 12.93%. The firm had revenue of $261.37 million for the quarter, compared to analysts’ expectations of $235.27 million. During the same period in the previous year, the firm posted $1.01 EPS. On average, sell-side analysts forecast that Albany International will post 3.55 EPS for the current year.
Albany International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Tuesday, September 6th were issued a $0.21 dividend. The ex-dividend date was Friday, September 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.95%. Albany International’s payout ratio is currently 21.27%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on AIN shares. Alembic Global Advisors lowered shares of Albany International from an overweight rating to a neutral rating and set a $110.00 price objective for the company. in a report on Tuesday, August 16th. Truist Financial lowered shares of Albany International from a buy rating to a hold rating and set a $80.00 target price for the company. in a research note on Wednesday, October 12th. Finally, StockNews.com began coverage on shares of Albany International in a research note on Wednesday, October 12th. They set a buy rating for the company.
Institutional Investors Weigh In On Albany International
Several hedge funds and other institutional investors have recently modified their holdings of AIN. Citigroup Inc. increased its stake in shares of Albany International by 7.1% in the 1st quarter. Citigroup Inc. now owns 33,541 shares of the textile maker’s stock worth $2,828,000 after purchasing an additional 2,229 shares in the last quarter. Bank of Montreal Can boosted its holdings in Albany International by 37.7% in the 1st quarter. Bank of Montreal Can now owns 13,075 shares of the textile maker’s stock worth $1,125,000 after buying an additional 3,578 shares during the period. MetLife Investment Management LLC boosted its holdings in Albany International by 56.1% in the 1st quarter. MetLife Investment Management LLC now owns 16,503 shares of the textile maker’s stock worth $1,392,000 after buying an additional 5,928 shares during the period. Rhumbline Advisers boosted its holdings in Albany International by 0.6% in the 1st quarter. Rhumbline Advisers now owns 93,759 shares of the textile maker’s stock worth $7,906,000 after buying an additional 529 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Albany International by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,915 shares of the textile maker’s stock worth $2,354,000 after buying an additional 3,442 shares during the period. 98.94% of the stock is currently owned by hedge funds and other institutional investors.
Albany International Company Profile
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, and towels.
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