Albany International Corporation $AIN Shares Bought by American Century Companies Inc.

Key Points

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American Century Companies Inc. grew its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 45.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,233,925 shares of the textile maker's stock after acquiring an additional 384,546 shares during the period. American Century Companies Inc. owned about 4.09% of Albany International worth $85,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Albany International during the first quarter valued at approximately $105,000. Public Sector Pension Investment Board increased its holdings in Albany International by 27.1% during the first quarter. Public Sector Pension Investment Board now owns 99,307 shares of the textile maker's stock valued at $6,856,000 after buying an additional 21,178 shares during the period. Nuveen LLC purchased a new position in Albany International during the first quarter valued at approximately $18,985,000. Virtu Financial LLC purchased a new position in Albany International during the first quarter valued at approximately $246,000. Finally, Entropy Technologies LP purchased a new position in Albany International during the first quarter valued at approximately $407,000. Institutional investors own 97.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIN. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Bank of America cut their price objective on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Robert W. Baird lowered shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective on the stock. in a report on Thursday, July 31st. One 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 company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $71.40.

Albany International Stock Up 4.5%

NYSE AIN traded up $2.79 on Friday, hitting $65.16. The stock had a trading volume of 326,028 shares, compared to its average volume of 402,265. The business's fifty day moving average price is $67.13 and its 200 day moving average price is $69.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $94.20. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38.

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 for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). The company had revenue of $311.40 million for 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Equities research analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Albany International's dividend payout ratio (DPR) is presently 54.00%.

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.