Louisiana State Employees Retirement System Acquires 200 Shares of Albany International Corp. (NYSE:AIN)

Louisiana State Employees Retirement System lifted its stake in shares of Albany International Corp. (NYSE:AIN) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the textile maker’s stock after buying an additional 200 shares during the quarter. Louisiana State Employees Retirement System owned about 0.05% of Albany International worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Dakota Wealth Management raised its position in shares of Albany International by 1.5% in the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after acquiring an additional 195 shares in the last quarter. Blue Trust Inc. lifted its position in Albany International by 38.6% during the second quarter. Blue Trust Inc. now owns 2,700 shares of the textile maker’s stock valued at $252,000 after buying an additional 752 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Albany International by 29.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock valued at $8,490,000 after buying an additional 23,018 shares in the last quarter. AlphaMark Advisors LLC purchased a new stake in shares of Albany International in the 2nd quarter worth about $317,000. Finally, Diversified Trust Co lifted its position in Albany International by 12.0% during the 2nd quarter. Diversified Trust Co now owns 9,800 shares of the textile maker’s stock valued at $828,000 after acquiring an additional 1,050 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AIN shares. JPMorgan Chase & Co. reduced their price objective on Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. TD Cowen lowered their price target on Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America decreased their target price on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. Finally, Truist Financial cut their price target on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Performance

AIN stock opened at $91.42 on Monday. The company has a market cap of $2.85 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 3.20. Albany International Corp. has a 1 year low of $78.20 and a 1 year high of $99.41. The stock’s fifty day moving average price is $87.38 and its 200-day moving average price is $88.95.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $331.99 million for the quarter, compared to analysts’ expectations of $318.17 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. Albany International’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. On average, equities analysts forecast that Albany International Corp. will post 3.79 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

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.