JPMorgan Chase & Co. increased its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 32.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,806 shares of the textile maker's stock after purchasing an additional 23,928 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.34% of Albany International worth $5,266,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in Albany International by 227.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker's stock valued at $38,000 after buying an additional 375 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock valued at $49,000 after buying an additional 174 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock valued at $64,000 after acquiring an additional 270 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Albany International in the third quarter worth $66,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Albany International in the second quarter worth $77,000. 97.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on AIN shares. Zacks Research upgraded Albany International from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 3rd. Truist Financial set a $55.00 target price on Albany International in a research report on Friday, January 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Albany International in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Albany International from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $61.50.
View Our Latest Report on AIN
Albany International Stock Up 3.6%
AIN stock opened at $54.07 on Thursday. The firm has a market cap of $1.53 billion, a PE ratio of -26.77, a PEG ratio of 2.02 and a beta of 1.18. Albany International Corporation has a 1 year low of $41.15 and a 1 year high of $73.00. The company has a fifty day simple moving average of $56.06 and a 200 day simple moving average of $53.98. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.62.
Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Tuesday, February 24th. The textile maker reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Albany International had a negative net margin of 4.85% and a positive return on equity of 9.64%. The firm had revenue of $321.21 million for the quarter, compared to the consensus estimate of $292.32 million. During the same period in the prior year, the business posted $0.58 earnings per share. The business's quarterly revenue was up 12.0% on a year-over-year basis. Albany International has set its Q1 2026 guidance at 0.500-0.600 EPS. Sell-side analysts anticipate that Albany International Corporation will post 3.23 EPS for the current fiscal year.
Albany International Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Albany International's dividend payout ratio is currently -55.45%.
About Albany International
(
Free Report)
Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.
In the Process Media segment, Albany's products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.
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