Albany International Corporation $AIN Stock Holdings Lowered by Vanguard Group Inc.

Key Points

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Vanguard Group Inc. lessened its stake in Albany International Corporation (NYSE:AIN - Free Report) by 2.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,423,379 shares of the textile maker's stock after selling 70,467 shares during the period. Vanguard Group Inc. owned 11.08% of Albany International worth $236,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AIN. Public Employees Retirement System of Ohio purchased a new stake in Albany International during the fourth quarter valued at about $40,000. Sterling Capital Management LLC grew its stake in shares of Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after acquiring an additional 662 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Albany International in the fourth quarter worth $213,000. Blue Trust Inc. lifted its position in Albany International by 48.7% in the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock worth $212,000 after purchasing an additional 1,004 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Albany International in the first quarter worth $212,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Price Performance

Shares of AIN opened at $61.79 on Tuesday. Albany International Corporation has a 1 year low of $50.60 and a 1 year high of $94.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. The business has a 50-day moving average of $67.56 and a 200-day moving average of $69.34.

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

Analyst Ratings Changes

AIN has been the subject of a number of research analyst reports. Robert W. Baird cut Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target for the company. in a report on Thursday, July 31st. Bank of America reduced their price target on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research report on Monday, June 2nd. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $55.00 price objective (down from $70.00) on shares of Albany International in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $71.40.

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.

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