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

Albany International Stock Performance

AIN stock traded up $1.79 during midday trading on Friday, hitting $55.98. 821,396 shares of the stock traded hands, compared to its average volume of 264,880. The firm has a market cap of $1.69 billion, a P/E ratio of 27.99, a PEG ratio of 1.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.92. The stock's fifty day simple moving average is $68.58 and its 200-day simple moving average is $70.95. Albany International has a 1-year low of $50.60 and a 1-year high of $94.20.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Friday, June 6th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio (DPR) is currently 54.00%.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Albany International by 7.5% during the first quarter. Royal Bank of Canada now owns 15,590 shares of the textile maker's stock valued at $1,076,000 after purchasing an additional 1,085 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Albany International by 28.5% during the first quarter. Intech Investment Management LLC now owns 17,280 shares of the textile maker's stock valued at $1,193,000 after purchasing an additional 3,837 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Albany International by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,569 shares of the textile maker's stock valued at $1,282,000 after purchasing an additional 807 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Albany International by 6.4% during 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 valued at $4,087,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Albany International by 464.4% during the first quarter. Millennium Management LLC now owns 91,934 shares of the textile maker's stock valued at $6,347,000 after purchasing an additional 75,644 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Analyst Ratings Changes

AIN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Baird R W cut shares of Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Robert W. Baird cut shares of 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. Truist Financial cut shares of Albany International from a "buy" rating to a "hold" rating and decreased their target price for the company from $70.00 to $55.00 in a research report on Friday. Finally, Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Albany International currently has a consensus rating of "Hold" and a consensus 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.