Bank of New York Mellon Corp Has $8.62 Million Holdings in Albany International Corporation $AIN

Key Points

• Bank of New York Mellon reduced its Albany International holdings by 7.9% to 165,084 shares, valued at approximately $8.62 million. Institutional investors collectively own 97.37% of the company.
• Albany International reported quarterly EPS of $0.60, exceeding the $0.55 consensus estimate, while revenue rose 7.8% year over year to $311.33 million. The company also maintains a quarterly dividend of $0.28, equivalent to a 1.5% annual yield.
• AIN shares opened at $74.57, near their 52-week high of $77.00, despite analysts’ consensus “Reduce” rating and $54.00 target price.

Bank of New York Mellon Corp lessened its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,084 shares of the textile maker's stock after selling 14,200 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of Albany International worth $8,619,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AIN. CWM LLC lifted its holdings in Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker's stock valued at $36,000 after buying an additional 201 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Albany International by 227.3% in the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker's stock valued at $38,000 after acquiring an additional 375 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock worth $49,000 after acquiring an additional 174 shares during the period. Osaic Holdings Inc. grew its holdings in Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock worth $64,000 after acquiring an additional 270 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Albany International by 519.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,382 shares of the textile maker's stock valued at $70,000 after acquiring an additional 1,159 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Up 0.1%

Shares of NYSE AIN opened at $74.57 on Monday. The stock has a market cap of $2.12 billion, a P/E ratio of -36.55, a P/E/G ratio of 3.18 and a beta of 1.17. The firm has a 50 day moving average price of $71.40 and a 200 day moving average price of $62.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.88 and a current ratio of 2.20. Albany International Corporation has a 52-week low of $41.15 and a 52-week high of $77.00.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Thursday, April 30th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. The firm had revenue of $311.33 million during the quarter, compared to the consensus estimate of $281.00 million. Albany International had a negative net margin of 4.93% and a positive return on equity of 9.44%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Analysts expect that Albany International Corporation will post 2.79 EPS for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Friday, June 5th were given a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. Albany International's dividend payout ratio is currently -54.90%.

Analysts Set New Price Targets

AIN has been the topic of a number of analyst reports. Truist Financial increased their price target on Albany International from $55.00 to $61.00 and gave the company a "hold" rating in a research note on Friday, June 12th. Weiss Ratings raised Albany International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $54.00.

Albany International Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany's products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.

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