Jacobs Levy Equity Management Inc. Takes Position 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. bought a new stake in Albany International Corporation (NYSE:AIN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,484 shares of the textile maker's stock, valued at approximately $1,414,000. Jacobs Levy Equity Management Inc. owned about 0.07% of Albany International at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AIN. Nuveen LLC acquired a new position in Albany International during the 1st quarter worth $18,985,000. Entropy Technologies LP bought a new stake in shares of Albany International during the first quarter worth $407,000. Jump Financial LLC bought a new stake in shares of Albany International during the first quarter worth $1,740,000. Teacher Retirement System of Texas raised its position in shares of Albany International by 5.5% during the first quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker's stock worth $4,785,000 after acquiring an additional 3,608 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Albany International by 20.2% during the first quarter. QRG Capital Management Inc. now owns 4,089 shares of the textile maker's stock worth $282,000 after acquiring an additional 686 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

Shares of Albany International stock opened at $60.35 on Friday. The firm has a fifty day moving average of $65.19 and a two-hundred day moving average of $67.22. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.43 and a beta of 1.39. Albany International Corporation has a 52 week low of $50.60 and a 52 week high of $89.66. 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 released its quarterly earnings data 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 quarter in the prior year, the company earned $0.89 EPS. Albany International's quarterly revenue 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, equities research analysts predict that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be given a $0.27 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. Albany International's dividend payout ratio is currently 54.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AIN shares. Bank of America dropped their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research report on Monday, June 2nd. 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. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird downgraded Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price for the company. in a research report on Thursday, July 31st. Finally, Baird R W cut shares of Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.

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