Dimensional Fund Advisors LP Sells 40,221 Shares of Albany International Corporation $AIN

Dimensional Fund Advisors LP lessened its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 914,927 shares of the textile maker's stock after selling 40,221 shares during the period. Dimensional Fund Advisors LP owned approximately 3.23% of Albany International worth $47,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIN. Bank of America Corp DE boosted its position in Albany International by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 1,457,609 shares of the textile maker's stock worth $102,222,000 after acquiring an additional 25,283 shares during the last quarter. State Street Corp lifted its position in Albany International by 1.1% during the 4th quarter. State Street Corp now owns 1,141,412 shares of the textile maker's stock worth $58,161,000 after buying an additional 12,684 shares in the last quarter. Sei Investments Co. boosted its position in Albany International by 0.7% during the third quarter. Sei Investments Co. now owns 802,840 shares of the textile maker's stock valued at $42,791,000 after purchasing an additional 5,426 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Albany International by 11,101.8% in the 3rd quarter. Franklin Resources Inc. now owns 648,810 shares of the textile maker's stock valued at $32,324,000 after buying an additional 643,018 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Albany International by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 624,708 shares of the textile maker's stock valued at $31,673,000 after acquiring an additional 86,551 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on AIN shares. Truist Financial lifted their price objective on shares of Albany International from $55.00 to $61.00 and gave the stock a "hold" rating in a research report on Friday, June 12th. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Albany International from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Albany International presently has an average rating of "Reduce" and an average target price of $54.00.

Albany International Stock Performance

Shares of Albany International stock opened at $74.57 on Monday. The company has a market cap of $2.12 billion, a P/E ratio of -36.55, a PEG ratio of 3.18 and a beta of 1.17. The business has a 50-day moving average price of $71.40 and a two-hundred day moving average price of $62.06. The company has a current ratio of 2.20, a quick ratio of 1.88 and a debt-to-equity ratio of 0.65. Albany International Corporation has a 1-year low of $41.15 and a 1-year high of $77.00.

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

Albany International Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.