Champlain Investment Partners LLC Sells 325,486 Shares of Albany International Corporation $AIN

Key Points

• Champlain Investment Partners LLC sold 325,486 shares of Albany International, reducing its holdings by 31.2% to approximately $49.57 million.
• Albany International's stock ratings have varied: Bank of America set a target price of $65.00, while Wall Street Zen upgraded it to a "buy" rating.
• Albany International announced a quarterly dividend of $0.27, resulting in a 1.7% dividend yield for investors, with a payout ratio of 54%.

Champlain Investment Partners LLC lowered its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 31.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 717,969 shares of the textile maker's stock after selling 325,486 shares during the quarter. Champlain Investment Partners LLC owned 2.38% of Albany International worth $49,569,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AIN. First Trust Advisors LP boosted its holdings in shares of Albany International by 10.5% during the fourth quarter. First Trust Advisors LP now owns 18,658 shares of the textile maker's stock worth $1,492,000 after purchasing an additional 1,768 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Albany International by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 19,065 shares of the textile maker's stock worth $1,525,000 after purchasing an additional 1,045 shares during the period. State of Tennessee Department of Treasury boosted its holdings in Albany International by 8.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 17,852 shares of the textile maker's stock worth $1,428,000 after purchasing an additional 1,349 shares during the period. Stifel Financial Corp increased its position in Albany International by 1.2% in the fourth quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker's stock worth $2,612,000 after buying an additional 381 shares during the period. Finally, Susquehanna International Group LLP boosted its position in Albany International by 377.8% during the 4th quarter. Susquehanna International Group LLP now owns 24,013 shares of the textile maker's stock worth $1,920,000 after acquiring an additional 18,987 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIN has been the subject of a number of recent research reports. Bank of America cut their price objective 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. 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 target price (down previously from $70.00) on shares of Albany International in a research report on Friday, August 1st. Robert W. Baird lowered Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target on the stock. in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment 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 data from MarketBeat, Albany International currently has an average rating of "Hold" and an average price target of $71.40.

Albany International Trading Down 0.7%

Albany International stock traded down $0.42 during mid-day trading on Monday, hitting $63.50. 186,576 shares of the stock were exchanged, compared to its average volume of 319,171. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.51 and a beta of 1.39. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $94.20. The firm's fifty day simple moving average is $66.75 and its two-hundred day simple moving average is $68.26. 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 posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $306.06 million. Albany International had a return on equity of 8.87% and a net margin of 5.25%.Albany International's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Analysts forecast that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Albany International's payout ratio is currently 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.