Cetera Investment Advisers Grows Stake in Albany International Corporation $AIN

Cetera Investment Advisers boosted its position in shares of Albany International Corporation (NYSE:AIN) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,410 shares of the textile maker’s stock after purchasing an additional 680 shares during the quarter. Cetera Investment Advisers’ holdings in Albany International were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AIN. Bank of Montreal Can increased its holdings in Albany International by 11.6% during the 4th quarter. Bank of Montreal Can now owns 4,572 shares of the textile maker’s stock worth $366,000 after purchasing an additional 475 shares during the period. Sterling Capital Management LLC increased its holdings in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after purchasing an additional 662 shares during the period. Summit Investment Advisors Inc. increased its holdings in Albany International by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock worth $261,000 after purchasing an additional 207 shares during the period. Barclays PLC increased its holdings in Albany International by 4.2% during the 4th quarter. Barclays PLC now owns 55,483 shares of the textile maker’s stock worth $4,437,000 after purchasing an additional 2,256 shares during the period. Finally, XTX Topco Ltd purchased a new position in Albany International during the 4th quarter worth $341,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Stock Up 1.2%

Albany International stock opened at $62.4960 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.45 and a beta of 1.38. Albany International Corporation has a 1-year low of $50.60 and a 1-year high of $94.20. The business has a fifty day moving average price of $67.44 and a 200-day moving average price of $69.29.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.16). Albany International had a return on equity of 8.87% and a net margin of 5.25%.The business had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Equities research analysts forecast that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AIN has been the topic of several research reports. Robert W. Baird downgraded Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a report on Thursday, July 31st. Wall Street Zen upgraded Albany International from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Bank of America cut their price target on Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a report on Monday, June 2nd. Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Finally, Baird R W downgraded Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Albany International presently has an average rating of “Hold” and a consensus price target of $71.40.

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.