Kayne Anderson Rudnick Investment Management LLC Has $66.38 Million Stock Holdings in Albany International Corporation $AIN

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in Albany International by 1.4%, owning approximately 3.18% of the company, worth $66.4 million.
• Recent analyst reports show mixed ratings for Albany International, with price targets ranging from $55 to $79, indicating a general shift towards more conservative outlooks.
• Albany International will pay a quarterly dividend of $0.27 on October 7, with an annualized yield of 1.7%, and a current payout ratio of 54%.

Kayne Anderson Rudnick Investment Management LLC increased its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,513 shares of the textile maker's stock after purchasing an additional 13,251 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 3.18% of Albany International worth $66,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group raised its holdings in shares of Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International in the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Albany International in the 1st quarter worth approximately $105,000. Blue Trust Inc. raised its holdings in shares of Albany International by 48.7% in the 1st 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Albany International in the 1st quarter worth approximately $212,000. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AIN. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird downgraded shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price on the stock. in a research report on Thursday, July 31st. Truist Financial reissued a "hold" rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Bank of America dropped their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $71.40.

Albany International Trading Down 0.7%

Shares of Albany International stock traded down $0.42 during trading on Friday, hitting $63.50. The stock had a trading volume of 186,576 shares, compared to its average volume of 350,913. The stock has a 50 day simple moving average of $66.75 and a 200 day simple moving average of $68.35. The company has a market capitalization of $1.87 billion, a PE 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. Albany International Corporation has a 1 year low of $50.60 and a 1 year high of $94.20.

Albany International (NYSE:AIN - Get Free Report) last announced 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 company had revenue of $311.40 million for the quarter, compared to analysts' expectations of $306.06 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The business'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. On average, research analysts expect 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, 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 presently 54.00%.

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.