Northern Trust Corp Reduces Stock Position in Albany International Corporation $AIN

Northern Trust Corp cut its stake in Albany International Corporation (NYSE:AIN) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,334 shares of the textile maker’s stock after selling 9,088 shares during the period. Northern Trust Corp owned approximately 1.12% of Albany International worth $23,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AIN. First Trust Advisors LP grew its position in shares of Albany International by 10.5% in the fourth quarter. First Trust Advisors LP now owns 18,658 shares of the textile maker’s stock valued at $1,492,000 after purchasing an additional 1,768 shares in the last quarter. Stifel Financial Corp grew its position in shares of Albany International by 1.2% in the fourth quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker’s stock valued at $2,612,000 after purchasing an additional 381 shares in the last quarter. Susquehanna International Group LLP grew its position in shares of Albany International by 377.8% in the fourth quarter. Susquehanna International Group LLP now owns 24,013 shares of the textile maker’s stock valued at $1,920,000 after purchasing an additional 18,987 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Albany International by 10.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,695 shares of the textile maker’s stock valued at $1,655,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Albany International in the fourth quarter valued at approximately $566,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Trading Down 0.7%

Shares of Albany International stock opened at $63.50 on Monday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.51 and a beta of 1.39. Albany International Corporation has a fifty-two week low of $50.60 and a fifty-two week high of $94.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The stock has a 50 day moving average of $66.75 and a 200 day moving average of $68.26.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $306.06 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, research analysts predict that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 2nd. Albany International’s dividend payout ratio is 54.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Thursday, July 31st. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Truist Financial reiterated a “hold” rating and issued a $55.00 price objective (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Wall Street Zen upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on Albany International from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Albany International presently has an average rating of “Hold” and an average target price of $71.40.

About Albany International

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.