Cubist Systematic Strategies LLC Acquires New Stake in Albany International Corporation $AIN

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Albany International Corporation, purchasing 19,074 shares valued at approximately $1.32 million, representing 0.06% ownership.
• Albany International reported a net margin of 5.25% and earnings per share of $0.57, missing analyst estimates of $0.73 while generating revenues of $311.4 million during the last quarter.
• The company declared a quarterly dividend of $0.27 per share, set to be paid on October 7th, with a current annualized yield of 1.7%.

Cubist Systematic Strategies LLC bought a new position in Albany International Corporation (NYSE:AIN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,074 shares of the textile maker's stock, valued at approximately $1,317,000. Cubist Systematic Strategies LLC owned about 0.06% of Albany International at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group raised its stake in shares of Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after buying an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Albany International during the first quarter worth approximately $105,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Albany International during the fourth quarter worth approximately $213,000. Finally, Blue Trust Inc. raised its stake in shares of Albany International by 48.7% during the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock worth $212,000 after buying an additional 1,004 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AIN shares. Bank of America dropped their price target on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird downgraded shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target for the company. in a research note on Thursday, July 31st. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $55.00 target price (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $71.40.

Albany International Stock Down 3.7%

Shares of NYSE:AIN traded down $2.24 during midday trading on Friday, reaching $58.07. 201,062 shares of the company were exchanged, compared to its average volume of 225,575. The firm has a market cap of $1.71 billion, a PE ratio of 29.04, a P/E/G ratio of 1.44 and a beta of 1.39. Albany International Corporation has a fifty-two week low of $50.60 and a fifty-two week high of $89.66. The stock has a fifty day simple moving average of $64.91 and a two-hundred day simple moving average of $67.07. 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 data on Wednesday, July 30th. The textile maker reported $0.57 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.16). The company had revenue of $311.40 million during the quarter, compared to the consensus estimate of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, sell-side analysts forecast 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. Investors of record on Tuesday, September 2nd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Albany International's payout ratio 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.