Dynamic Technology Lab Private Ltd Takes $416,000 Position in Albany International Corporation $AIN

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $416,000 in Albany International Corporation by purchasing 6,021 shares in the first quarter.
• Albany International reported a missed EPS estimate of $0.57 for the quarter, falling short of the consensus estimate of $0.73, with a 6.2% year-over-year decline in revenue.
• The company also announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.8%, with the ex-dividend date set for September 2nd.

Dynamic Technology Lab Private Ltd purchased a new stake in Albany International Corporation (NYSE:AIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,021 shares of the textile maker's stock, valued at approximately $416,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its position in Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after acquiring an additional 381 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Albany International in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Albany International in the 1st quarter valued at approximately $105,000. Wealth Enhancement Advisory Services LLC acquired a new position in Albany International in the 4th quarter valued at approximately $213,000. Finally, Blue Trust Inc. increased its position in Albany International by 48.7% in the 1st quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock valued at $212,000 after acquiring an additional 1,004 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Performance

Shares of AIN stock traded up $0.16 during trading on Wednesday, reaching $58.11. 25,991 shares of the company's stock traded hands, compared to its average volume of 261,695. The company has a market capitalization of $1.71 billion, a P/E ratio of 29.08, a PEG ratio of 1.39 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $64.41 and its 200 day moving average is $66.75. Albany International Corporation has a 1 year low of $50.60 and a 1 year high of $89.66.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly 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). The business had revenue of $311.40 million for the quarter, compared to analysts' expectations of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. 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. Equities research analysts expect that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Dividend Announcement

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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 2nd. Albany International's dividend payout ratio (DPR) is 54.00%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AIN shares. Bank of America decreased 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 report on Monday, June 2nd. Truist Financial reaffirmed a "hold" rating and issued a $55.00 price objective (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird lowered shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective on the stock. in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Albany International has a consensus rating of "Hold" and a consensus target price of $71.40.

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.