New York State Teachers Retirement System Sells 4,100 Shares of Albany International Corporation (NYSE:AIN)

New York State Teachers Retirement System trimmed its position in shares of Albany International Corporation (NYSE:AIN - Free Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Albany International during the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC raised its holdings in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after buying an additional 503 shares during the period. Sterling Capital Management LLC raised its holdings in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after buying an additional 662 shares during the period. Vestcor Inc purchased a new stake in Albany International during the 4th quarter valued at $70,000. Finally, Covestor Ltd raised its holdings in Albany International by 110.4% during the 4th quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after buying an additional 466 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Trading Down 0.5%

AIN stock traded down $0.38 during midday trading on Tuesday, reaching $70.41. The company's stock had a trading volume of 246,778 shares, compared to its average volume of 252,292. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 3.70. The stock has a fifty day simple moving average of $67.50 and a two-hundred day simple moving average of $72.33. Albany International Corporation has a 1 year low of $57.71 and a 1 year high of $95.47. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.66 and a beta of 1.31.

Albany International (NYSE:AIN - Get Free Report) last released its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The business had revenue of $288.77 million for the quarter, compared to analyst estimates of $300.74 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business's revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts predict that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, June 6th. Albany International's payout ratio is 43.55%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AIN. Truist Financial decreased their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Bank of America decreased their price target on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Albany International currently has an average rating of "Moderate Buy" and an average price target of $79.00.

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.