Y Intercept Hong Kong Ltd Purchases Shares of 9,591 Albany International Corporation $AIN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Albany International Corporation (NYSE:AIN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,591 shares of the textile maker’s stock, valued at approximately $673,000.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings in Albany International by 2,241.2% during the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 381 shares during the last quarter. Hilltop National Bank acquired a new stake in Albany International during the 2nd quarter valued at $101,000. Caitong International Asset Management Co. Ltd acquired a new stake in Albany International during the 1st quarter valued at $105,000. Central Pacific Bank Trust Division lifted its holdings in Albany International by 73.0% during the 2nd quarter. Central Pacific Bank Trust Division now owns 2,880 shares of the textile maker’s stock valued at $202,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Albany International during the 1st quarter worth $212,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Down 0.9%

Shares of NYSE AIN opened at $54.55 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International Corporation has a 52 week low of $50.60 and a 52 week high of $88.13. The stock has a market capitalization of $1.61 billion, a P/E ratio of 27.28, a PEG ratio of 1.36 and a beta of 1.39. The stock’s fifty day moving average is $57.53 and its 200 day moving average is $63.45.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The company had revenue of $239.92 million for the quarter. Sell-side analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, September 2nd. Albany International’s payout ratio is currently 54.00%.

Wall Street Analyst Weigh In

AIN has been the topic of several recent research reports. Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down previously from $70.00) on shares of Albany International in a research report on Friday, August 1st. Finally, Baird R W cut Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.50.

Albany International Company 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.