Earnest Partners LLC Buys 4,647 Shares of Albany International Corporation $AIN

Key Points

• Earnest Partners LLC increased its stake in Albany International Corporation by 0.2%, adding 4,647 shares, bringing its total ownership to approximately 2.65 million shares, valued at around $182.66 million.
• Albany International's recent earnings report showed an EPS of $0.57, falling short of analysts' expectations and reflecting a 6.2% year-over-year revenue decline.
• The company's quarterly dividend of $0.27 per share will be paid on October 7th, which represents a 1.7% yield and a dividend payout ratio of 54%.

Earnest Partners LLC grew its position in Albany International Corporation (NYSE:AIN - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,645,755 shares of the textile maker's stock after buying an additional 4,647 shares during the quarter. Albany International makes up approximately 0.9% of Earnest Partners LLC's portfolio, making the stock its 24th largest position. Earnest Partners LLC owned approximately 8.76% of Albany International worth $182,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in shares of Albany International by 2,241.2% in 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 period. Public Employees Retirement System of Ohio acquired a new stake in shares of Albany International during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Albany International during the first quarter worth approximately $105,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Albany International during the fourth quarter worth approximately $213,000. Finally, Blue Trust Inc. boosted its holdings 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 purchasing an additional 1,004 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on AIN shares. JPMorgan Chase & Co. raised their price target on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Baird R W cut shares of Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Truist Financial restated a "hold" rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Robert W. Baird cut shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target for the company. in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.40.

Albany International Stock Performance

Shares of NYSE:AIN traded down $0.42 during trading on Friday, reaching $63.50. The stock had a trading volume of 186,576 shares, compared to its average volume of 350,913. Albany International Corporation has a 52 week low of $50.60 and a 52 week high of $94.20. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.51 and a beta of 1.38. 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 fifty day simple moving average of $66.75 and a two-hundred day simple moving average of $68.35.

Albany International (NYSE:AIN - Get Free Report) last released 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). Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm had revenue of $311.40 million during the quarter, compared to the consensus estimate of $306.06 million. During the same period in the prior year, the business earned $0.89 EPS. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. Albany International's payout ratio is 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.