Public Sector Pension Investment Board Has $5.80 Million Stock Position in Albany International Corp. (NYSE:AIN)

Public Sector Pension Investment Board boosted its position in shares of Albany International Corp. (NYSE:AIN) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,634 shares of the textile maker’s stock after purchasing an additional 4,676 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Albany International worth $5,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its stake in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC raised its position in Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank boosted its stake in Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after buying an additional 1,091 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Albany International in the 1st quarter valued at about $102,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Truist Financial reduced their price objective on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.50.

Albany International Trading Down 0.1 %

Shares of NYSE AIN opened at $86.51 on Thursday. Albany International Corp. has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The firm has a market capitalization of $2.70 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The company’s 50 day simple moving average is $88.77 and its 200 day simple moving average is $88.23.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The company had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same period last year, the company earned $0.90 EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, analysts predict that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Announces Dividend

The business 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 $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.20%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Albany International 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.