Jones Financial Companies Lllp Increases Stake in Albany International Corporation $AIN

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Albany International Corporation by 4,899.3% in the 1st quarter, now owning about 29,196 shares valued at approximately $2.1 million.
• Albany International reported a net margin of 5.25% and a quarterly revenue of $311.40 million, which was higher than analysts' expectations but their earnings per share fell short of estimates.
• The company announced a quarterly dividend of $0.27 per share with a yield of 1.8%, indicating a dividend payout ratio of 54.00%.

Jones Financial Companies Lllp raised its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 4,899.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,196 shares of the textile maker's stock after acquiring an additional 28,612 shares during the period. Jones Financial Companies Lllp owned about 0.10% of Albany International worth $2,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIN. BNP Paribas Financial Markets grew its position in Albany International by 31.0% in the fourth quarter. BNP Paribas Financial Markets now owns 16,475 shares of the textile maker's stock valued at $1,318,000 after acquiring an additional 3,903 shares during the last quarter. Captrust Financial Advisors grew its position in Albany International by 15.5% in the fourth quarter. Captrust Financial Advisors now owns 7,125 shares of the textile maker's stock valued at $570,000 after acquiring an additional 958 shares during the last quarter. Cetera Investment Advisers grew its position in Albany International by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after acquiring an additional 133 shares during the last quarter. Deutsche Bank AG grew its position in Albany International by 349.3% in the fourth quarter. Deutsche Bank AG now owns 80,367 shares of the textile maker's stock valued at $6,427,000 after acquiring an additional 62,480 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in Albany International by 60.5% in the fourth quarter. Gotham Asset Management LLC now owns 4,292 shares of the textile maker's stock valued at $343,000 after acquiring an additional 1,618 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Wall Street Analyst Weigh In

AIN has been the topic of a number of recent analyst reports. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Truist Financial restated a "hold" rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Robert W. Baird cut Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target on the stock. in a report on Thursday, July 31st. Finally, Bank of America reduced their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $71.40.

Albany International Stock Up 0.3%

NYSE AIN traded up $0.16 on Wednesday, reaching $58.11. The company had a trading volume of 25,991 shares, compared to its average volume of 261,695. The stock has a market capitalization of $1.71 billion, a P/E ratio of 29.08, a P/E/G ratio of 1.39 and a beta of 1.39. The company's fifty day moving average is $64.41 and its 200 day moving average is $66.75. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $89.66. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). The business had revenue of $311.40 million during 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 firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. 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 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a yield of 1.9%. Albany International's dividend payout ratio (DPR) is 54.00%.

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.