Diversified Trust Co Sells 3,955 Shares of Albany International Corporation $AIN

Diversified Trust Co reduced its stake in shares of Albany International Corporation (NYSE:AIN) by 52.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,620 shares of the textile maker’s stock after selling 3,955 shares during the quarter. Diversified Trust Co’s holdings in Albany International were worth $254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after buying an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Albany International during the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd bought a new position in Albany International during the 1st quarter worth approximately $105,000. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 73.0% in the second quarter. Central Pacific Bank Trust Division now owns 2,880 shares of the textile maker’s stock worth $202,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Albany International by 48.7% in the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker’s stock worth $212,000 after purchasing an additional 1,004 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Baird R W cut shares of Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Truist Financial reissued a “hold” rating and issued a $55.00 price target (down previously from $70.00) on shares of Albany International in a report on Friday, August 1st. Bank of America cut their target price on Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a research note on Monday, June 2nd. Finally, Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Thursday, July 31st. One 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.com, the company currently has an average rating of “Hold” and a consensus target price of $71.40.

Albany International Trading Down 1.8%

Shares of AIN opened at $54.60 on Thursday. The firm’s 50-day moving average price is $62.79 and its 200-day moving average price is $66.09. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.33 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. Albany International Corporation has a 1-year low of $50.60 and a 1-year high of $89.25.

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 the consensus estimate of $0.73 by ($0.16). The firm had revenue of $311.40 million for the quarter, compared to the consensus estimate of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Sell-side analysts anticipate that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Albany International’s payout ratio is currently 54.00%.

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.