274,989 Shares in Albany International Corporation $AIN Bought by Nuveen LLC

Key Points

• Nuveen LLC has established a new position in Albany International Corporation, acquiring 274,989 shares valued at approximately $18.99 million during the first quarter.
• Albany International's stock received mixed ratings from analysts, with JPMorgan Chase raising its price target from $65.00 to $77.00 while Bank of America lowered its target from $75.00 to $65.00.
• The company's latest quarterly earnings report showed earnings per share (EPS) of $0.57, missing estimates, and a revenue decline of 6.2% year-over-year, indicating potential financial challenges.

Nuveen LLC acquired a new stake in shares of 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. The institutional investor acquired 274,989 shares of the textile maker's stock, valued at approximately $18,985,000. Nuveen LLC owned about 0.91% of Albany International as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cetera Investment Advisers lifted its position in shares of Albany International by 3.7% during the 4th quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after acquiring an additional 133 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Albany International by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker's stock valued at $261,000 after purchasing an additional 207 shares during the period. Park Avenue Securities LLC raised its stake in Albany International by 11.5% during the 1st quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock valued at $229,000 after purchasing an additional 342 shares during the period. DAVENPORT & Co LLC raised its stake in Albany International by 3.0% during the 1st quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after purchasing an additional 360 shares during the period. Finally, Stifel Financial Corp raised its stake in Albany International by 1.2% during the 4th quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker's stock valued at $2,612,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIN. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Baird R W downgraded shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. 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 note on Thursday, July 31st. Finally, Bank of America cut 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 note on Monday, June 2nd. One 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, Albany International currently has a consensus rating of "Hold" and a consensus target price of $71.40.

Albany International Stock Down 0.3%

Shares of NYSE AIN traded down $0.1650 during mid-day trading on Monday, reaching $65.0750. The company had a trading volume of 330,272 shares, compared to its average volume of 411,083. Albany International Corporation has a twelve month low of $50.60 and a twelve month high of $94.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The stock has a market capitalization of $1.92 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The stock's 50 day moving average is $67.06 and its 200-day moving average is $68.72.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). Albany International had a return on equity of 8.87% and a net margin of 5.25%.The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same period last year, the company posted $0.89 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. As a group, equities analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Albany International's dividend payout ratio is 54.00%.

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.