Deutsche Bank AG Sells 13,554 Shares of Albany International Corporation $AIN

Deutsche Bank AG trimmed its position in Albany International Corporation (NYSE:AIN - Free Report) by 16.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 66,813 shares of the textile maker's stock after selling 13,554 shares during the period. Deutsche Bank AG owned about 0.22% of Albany International worth $4,613,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. Earnest Partners LLC boosted its holdings in Albany International by 3.9% in the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock valued at $211,209,000 after acquiring an additional 99,149 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Albany International by 3,050.6% in the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after purchasing an additional 1,320,654 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Albany International by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock valued at $88,217,000 after purchasing an additional 9,226 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Albany International by 6.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker's stock valued at $57,369,000 after purchasing an additional 53,400 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Albany International by 2.7% in the 1st quarter. Victory Capital Management Inc. now owns 744,158 shares of the textile maker's stock valued at $51,377,000 after purchasing an additional 19,621 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Albany International Stock Down 1.6%

AIN traded down $0.9850 during trading on Wednesday, reaching $61.4350. The company had a trading volume of 161,907 shares, compared to its average volume of 266,840. The company has a market cap of $1.81 billion, a P/E ratio of 30.72, a PEG ratio of 1.45 and a beta of 1.38. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $94.20. The business's fifty day moving average price is $67.44 and its 200 day moving average price is $69.29. 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 (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. Equities analysts anticipate that Albany International Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

AIN has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of 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 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. Truist Financial restated a "hold" rating and issued a $55.00 price target (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Bank of America reduced their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $71.40.

Albany International Company 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.