Select Equity Group L.P. Has $8.72 Million Stock Position in Albany International Corporation $AIN

Select Equity Group L.P. lifted its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 784.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 126,262 shares of the textile maker's stock after purchasing an additional 111,983 shares during the period. Select Equity Group L.P. owned 0.42% of Albany International worth $8,717,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings 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. Gamco Investors INC. ET AL boosted its holdings in Albany International by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker's stock valued at $3,406,000 after acquiring an additional 250 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Albany International by 11.5% in the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock valued at $229,000 after acquiring an additional 342 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in Albany International by 3.0% in the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after acquiring an additional 360 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Analyst Ratings Changes

AIN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird cut Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price 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 investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $71.40.

Albany International Stock Down 3.7%

Shares of NYSE AIN traded down $2.24 during mid-day trading on Friday, reaching $58.07. 201,062 shares of the company's stock were exchanged, compared to its average volume of 225,575. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.44 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $64.91 and a 200 day simple moving average of $66.99. Albany International Corporation has a twelve month low of $50.60 and a twelve month high of $89.66.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). The business had revenue of $311.40 million for the quarter, compared to analyst estimates of $306.06 million. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The company's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, equities analysts expect that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

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

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.