New York State Teachers Retirement System lessened its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,275 shares of the textile maker's stock after selling 4,100 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Albany International worth $2,781,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AIN. Bank of New York Mellon Corp increased its position in Albany International by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock worth $24,381,000 after purchasing an additional 9,091 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after acquiring an additional 503 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Albany International by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,036 shares of the textile maker's stock valued at $34,070,000 after acquiring an additional 28,061 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Albany International during the fourth quarter valued at $1,509,000. Finally, Raymond James Financial Inc. bought a new position in Albany International during the fourth quarter valued at $19,349,000. Institutional investors own 97.37% of the company's stock.
Albany International Trading Down 1.7%
Shares of NYSE AIN traded down $1.22 during mid-day trading on Friday, reaching $69.78. The company had a trading volume of 218,852 shares, compared to its average volume of 229,109. The business's 50-day moving average is $67.86 and its 200-day moving average is $72.25. The company has a current ratio of 3.70, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. Albany International Corporation has a 52 week low of $57.71 and a 52 week high of $95.47.
Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. Albany International had a net margin of 6.44% and a return on equity of 9.79%. The company had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. During the same period in the prior year, the business earned $0.90 EPS. The firm's quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts expect that Albany International Corporation will post 3.23 earnings per share for the current year.
Albany International Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.55%. Albany International's dividend payout ratio is currently 43.55%.
Analyst Ratings Changes
A number of research firms have weighed in on AIN. JPMorgan Chase & Co. boosted their price objective on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Bank of America cut their price objective 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. Truist Financial cut their price target on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.
Get Our Latest Stock Analysis on AIN
About Albany International
(
Free Report)
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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