Fifth Third Bancorp Sells 408 Shares of Albany International Corporation $AIN

Fifth Third Bancorp decreased its holdings in Albany International Corporation (NYSE:AIN) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,201 shares of the textile maker’s stock after selling 408 shares during the quarter. Fifth Third Bancorp’s holdings in Albany International were worth $645,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after purchasing an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Albany International during the fourth quarter valued at $40,000. Caitong International Asset Management Co. Ltd bought a new stake in Albany International during the first quarter valued at $105,000. Wealth Enhancement Advisory Services LLC bought a new stake in Albany International during the fourth quarter valued at $213,000. Finally, Central Pacific Bank Trust Division boosted its position in Albany International by 73.0% during the second quarter. Central Pacific Bank Trust Division now owns 2,880 shares of the textile maker’s stock valued at $202,000 after acquiring an additional 1,215 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 1.6%

AIN opened at $52.70 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. Albany International Corporation has a fifty-two week low of $50.60 and a fifty-two week high of $88.92. The firm has a market capitalization of $1.55 billion, a PE ratio of 26.35, a P/E/G ratio of 1.28 and a beta of 1.39. The company’s 50-day moving average is $61.81 and its 200 day moving average is $65.57.

Albany International (NYSE:AIN) last posted its earnings results 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 quarter in the prior year, the company earned $0.89 EPS. 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 fiscal year.

Albany International Dividend Announcement

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

Analysts Set New Price Targets

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