Cubist Systematic Strategies LLC Takes $1.32 Million Position 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 purchased a new stake in Albany International Corporation (NYSE:AIN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,074 shares of the textile maker's stock, valued at approximately $1,317,000. Cubist Systematic Strategies LLC owned approximately 0.06% of Albany International at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AIN. Susquehanna International Group LLP increased its holdings in Albany International by 377.8% in the 4th quarter. Susquehanna International Group LLP now owns 24,013 shares of the textile maker's stock valued at $1,920,000 after purchasing an additional 18,987 shares in the last quarter. Northern Trust Corp grew its stake in shares of Albany International by 12.2% during the fourth quarter. Northern Trust Corp now owns 346,422 shares of the textile maker's stock valued at $27,703,000 after acquiring an additional 37,762 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Albany International by 31.0% during the fourth quarter. BNP Paribas Financial Markets now owns 16,475 shares of the textile maker's stock valued at $1,318,000 after acquiring an additional 3,903 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Albany International by 3,050.6% during the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after acquiring an additional 1,320,654 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Albany International by 15.5% during the fourth quarter. Captrust Financial Advisors now owns 7,125 shares of the textile maker's stock valued at $570,000 after acquiring an additional 958 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Performance

AIN stock traded down $1.38 during midday trading on Friday, reaching $58.93. The company had a trading volume of 36,175 shares, compared to its average volume of 262,309. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $65.19 and a 200 day moving average price of $67.22. Albany International Corporation has a fifty-two week low of $50.60 and a fifty-two week high of $89.66. The firm has a market capitalization of $1.74 billion, a PE ratio of 29.47, a P/E/G ratio of 1.43 and a beta of 1.39.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The textile maker reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business's revenue was down 6.2% on a year-over-year basis. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 2nd. Albany International's payout ratio is presently 54.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIN. Truist Financial restated a "hold" rating and set a $55.00 target price (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird downgraded Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price for the company. in a research note on Thursday, July 31st. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Baird R W downgraded Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently 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.