State of New Jersey Common Pension Fund D Decreases Holdings in Albany International Corp. (NYSE:AIN)

State of New Jersey Common Pension Fund D decreased its position in Albany International Corp. (NYSE:AIN – Get Rating) by 6.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,045 shares of the textile maker’s stock after selling 1,737 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Albany International worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Albany International during the second quarter valued at $25,000. CWM LLC raised its position in Albany International by 272.2% in the 2nd quarter. CWM LLC now owns 402 shares of the textile maker’s stock worth $32,000 after buying an additional 294 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in Albany International during the 2nd quarter valued at about $44,000. EverSource Wealth Advisors LLC grew its stake in shares of Albany International by 486.0% in the second quarter. EverSource Wealth Advisors LLC now owns 920 shares of the textile maker’s stock worth $72,000 after acquiring an additional 763 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Albany International during the second quarter valued at approximately $77,000. 99.94% of the stock is owned by institutional investors.

Albany International Stock Down 0.8 %

AIN stock opened at $104.67 on Friday. The business’s 50-day moving average price is $101.73 and its 200-day moving average price is $92.06. The stock has a market cap of $3.26 billion, a P/E ratio of 31.34, a PEG ratio of 3.61 and a beta of 1.28. The company has a quick ratio of 3.56, a current ratio of 4.27 and a debt-to-equity ratio of 0.54. Albany International Corp. has a twelve month low of $75.24 and a twelve month high of $109.99.

Albany International (NYSE:AIN – Get Rating) last issued its quarterly earnings results on Monday, October 24th. The textile maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.31. The business had revenue of $260.56 million for the quarter, compared to the consensus estimate of $244.71 million. Albany International had a net margin of 10.56% and a return on equity of 14.83%. On average, equities research analysts forecast that Albany International Corp. will post 3.75 EPS for the current year.

Albany International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Tuesday, December 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, December 23rd. This is an increase from Albany International’s previous quarterly dividend of $0.21. Albany International’s dividend payout ratio (DPR) is 29.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AIN shares. Robert W. Baird boosted their target price on shares of Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, October 26th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Finally, Truist Financial upped their target price on shares of Albany International from $80.00 to $85.00 in a report on Monday, January 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.50.

About Albany International

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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, and towels.