Albany International (NYSE:AIN) Announces Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Key Points

• Albany International reported earnings of $0.57 per share, missing analysts' expectations by $0.16, with revenues down 6.2% compared to the previous year.
• The company has updated its FY 2025 guidance to earnings between $3.00 to $3.40 per share.
• Albany International's board has declared a quarterly dividend of $0.27, representing an annualized yield of 1.52%.

Albany International (NYSE:AIN - Get Free Report) released its quarterly earnings results on Wednesday. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16), Zacks reports. The company had revenue of $311.40 million during the quarter, compared to analysts' expectations of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Albany International's revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. Albany International updated its FY 2025 guidance to 3.000-3.400 EPS.

Albany International Price Performance

Shares of NYSE:AIN traded up $1.79 on Friday, reaching $55.98. 821,396 shares of the company were exchanged, compared to its average volume of 264,880. The company has a current ratio of 3.51, a quick ratio of 2.92 and a debt-to-equity ratio of 0.50. Albany International has a 1-year low of $50.60 and a 1-year high of $94.20. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38. The company has a 50-day moving average of $68.58 and a 200-day moving average of $70.88.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. Albany International's dividend payout ratio is 54.00%.

Hedge Funds Weigh In On Albany International

A number of institutional investors and hedge funds have recently made changes to their positions in AIN. Intech Investment Management LLC grew its stake in Albany International by 28.5% in the 1st quarter. Intech Investment Management LLC now owns 17,280 shares of the textile maker's stock valued at $1,193,000 after acquiring an additional 3,837 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Albany International during the 1st quarter worth about $7,468,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Albany International by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,199 shares of the textile maker's stock worth $4,087,000 after acquiring an additional 3,559 shares during the last quarter. Millennium Management LLC boosted its position in shares of Albany International by 464.4% in the first quarter. Millennium Management LLC now owns 91,934 shares of the textile maker's stock worth $6,347,000 after acquiring an additional 75,644 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Albany International by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,569 shares of the textile maker's stock worth $1,282,000 after acquiring an additional 807 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AIN shares. Bank of America dropped their price objective on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Robert W. Baird downgraded shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective for the company. in a research report on Thursday. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Baird R W downgraded shares of Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $71.40.

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.