Jacobs Levy Equity Management Inc. Invests $1.41 Million in Albany International Corporation $AIN

Key Points

• Jacobs Levy Equity Management Inc. recently acquired a new stake in Albany International Corporation, purchasing 20,484 shares valued at approximately $1,414,000.
• Albany International's quarterly earnings report indicated an EPS of $0.57, missing analysts' expectations of $0.73, while revenue was $311.4 million, down 6.2% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.8%, with the payout slated for October 7th.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Albany International Corporation (NYSE:AIN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 20,484 shares of the textile maker's stock, valued at approximately $1,414,000. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Albany International at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Albany International during the first quarter worth about $18,985,000. Entropy Technologies LP purchased a new position in Albany International during the 1st quarter worth approximately $407,000. Jump Financial LLC acquired a new position in Albany International during the first quarter worth approximately $1,740,000. Teacher Retirement System of Texas lifted its stake in Albany International by 5.5% in the first quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker's stock valued at $4,785,000 after buying an additional 3,608 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Albany International by 20.2% in the first quarter. QRG Capital Management Inc. now owns 4,089 shares of the textile maker's stock valued at $282,000 after buying an additional 686 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AIN shares. Bank of America cut their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. Robert W. Baird downgraded 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 report on Thursday, July 31st. Truist Financial restated 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. Finally, Baird R W downgraded shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. One equities research 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $71.40.

Albany International Price Performance

AIN stock traded down $1.58 on Wednesday, reaching $56.37. 211,807 shares of the company's stock were exchanged, compared to its average volume of 214,987. Albany International Corporation has a twelve month low of $50.60 and a twelve month high of $89.66. 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 moving average of $64.12 and a 200-day moving average of $66.68. The firm has a market cap of $1.66 billion, a PE ratio of 28.19, a P/E/G ratio of 1.38 and a beta of 1.39.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share 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 analyst estimates of $306.06 million. During the same period last year, the company earned $0.89 earnings per share. The business'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, equities analysts predict that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. Albany International's payout ratio is 54.00%.

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.