Hsbc Holdings PLC Has $779,000 Holdings in Albany International Corporation $AIN

Key Points

• Hsbc Holdings PLC increased its stake in Albany International Corporation by 184.7%, owning 11,238 shares worth approximately $779,000 as of its latest SEC filing.
• Albany International reported a $0.57 EPS for the latest quarter, missing analyst expectations, while its revenue decreased 6.2% year-over-year to $311.40 million.
• The company announced a quarterly dividend of $0.27 per share, with an ex-dividend date set for September 2nd, representing a dividend yield of 1.7%.

Hsbc Holdings PLC raised its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 184.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,238 shares of the textile maker's stock after purchasing an additional 7,290 shares during the period. Hsbc Holdings PLC's holdings in Albany International were worth $779,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group boosted its holdings 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 purchasing an additional 381 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International in the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Albany International in the first quarter valued at approximately $105,000. Blue Trust Inc. raised 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 purchasing an additional 1,004 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Albany International in the first quarter valued at about $212,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Performance

AIN opened at $63.50 on Friday. The firm has a market capitalization of $1.87 billion, a PE ratio of 31.75, a PEG ratio of 1.51 and a beta of 1.38. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $94.20. The business's 50-day simple moving average is $66.75 and its 200 day simple moving average is $68.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51.

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

Albany International Announces Dividend

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 paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Albany International's payout ratio is currently 54.00%.

Analyst Ratings Changes

AIN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird cut shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective for the company. in a research report on Thursday, July 31st. Bank of America lowered their price target on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Truist Financial restated a "hold" rating and set a $55.00 price objective (down from $70.00) on shares of Albany International in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently 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.

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