Arizona State Retirement System Sells 166 Shares of Albany International Corp. (NYSE:AIN)

Arizona State Retirement System cut its holdings in shares of Albany International Corp. (NYSE:AIN) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 8,717 shares of the textile maker’s stock after selling 166 shares during the period. Arizona State Retirement System’s holdings in Albany International were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Albany International by 1.1% during the first quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock worth $417,218,000 after purchasing an additional 51,597 shares during the period. Vanguard Group Inc. increased its stake in Albany International by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,444,386 shares of the textile maker’s stock valued at $290,431,000 after acquiring an additional 30,652 shares during the last quarter. Earnest Partners LLC increased its stake in Albany International by 2.0% in the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after acquiring an additional 45,158 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Albany International by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,151,310 shares of the textile maker’s stock valued at $97,080,000 after acquiring an additional 29,943 shares during the last quarter. Finally, State Street Corp increased its stake in Albany International by 0.5% in the third quarter. State Street Corp now owns 1,082,808 shares of the textile maker’s stock valued at $85,587,000 after acquiring an additional 5,426 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AIN has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America reissued an “underperform” rating and issued a $95.00 price objective (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

Albany International Stock Performance

Shares of Albany International stock opened at $87.95 on Thursday. Albany International Corp. has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The firm has a market capitalization of $2.74 billion, a P/E ratio of 24.77, a P/E/G ratio of 2.32 and a beta of 1.25. The company’s 50 day moving average price is $92.02 and its two-hundred day moving average price is $89.59.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm had revenue of $323.60 million for the quarter, compared to analyst estimates of $298.17 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Albany International Corp. will post 3.9 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.18%. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. 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, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.