OMERS ADMINISTRATION Corp Invests $628,000 in Albany International Corporation $AIN

Key Points

• OMERS ADMINISTRATION Corp acquired a new position in Albany International Corporation, purchasing 9,100 shares valued at approximately $628,000.
• Albany International reported a Q2 earnings miss with an EPS of $0.57, below the consensus estimate of $0.73, and reported a 6.2% decline in quarterly revenue year-over-year.
• The company recently announced a quarterly dividend of $0.27 per share, aimed to be paid on October 7th, reflecting an annualized yield of 1.7%.

OMERS ADMINISTRATION Corp purchased a new position in shares of Albany International Corporation (NYSE:AIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,100 shares of the textile maker's stock, valued at approximately $628,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group grew its holdings in shares of Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after purchasing an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Albany International in the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Albany International in the first quarter worth approximately $105,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International in the fourth quarter worth approximately $213,000. Finally, Blue Trust Inc. lifted its stake in shares of Albany International by 48.7% in the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock worth $212,000 after acquiring an additional 1,004 shares during the period. 97.37% of the stock is currently owned by institutional investors.

Albany International Trading Down 0.4%

AIN traded down $0.22 during trading on Friday, hitting $62.37. The company's stock had a trading volume of 199,289 shares, compared to its average volume of 264,471. Albany International Corporation has a twelve month low of $50.60 and a twelve month high of $89.66. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average price is $66.04 and its 200-day moving average price is $67.79. The firm has a market capitalization of $1.84 billion, a P/E ratio of 31.19, a PEG ratio of 1.49 and a beta of 1.39.

Albany International (NYSE:AIN - Get Free Report) last issued its 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 firm had revenue of $311.40 million for the quarter, compared to analyst estimates of $306.06 million. During the same period in the previous year, the company earned $0.89 earnings per share. Albany International's revenue for the quarter 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. Analysts anticipate that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd 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 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Albany International's dividend payout ratio is presently 54.00%.

Analysts Set New Price Targets

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

Albany International 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.