Public Employees Retirement System of Ohio Has $40,000 Stake in Albany International Corporation $AIN

Key Points

• The Public Employees Retirement System of Ohio significantly reduced its stake in Albany International Corporation, lowering it by 92.5% to 569 shares worth approximately $40,000.
• Albany International reported $0.57 EPS for the last quarter, missing estimates by $0.16, and its revenue declined by 6.2% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, with an annualized yield of 1.9% and a payout ratio of 54%.

Public Employees Retirement System of Ohio lowered its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 92.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 569 shares of the textile maker's stock after selling 7,011 shares during the period. Public Employees Retirement System of Ohio's holdings in Albany International were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gamco Investors INC. ET AL raised its holdings in shares of Albany International by 0.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker's stock worth $3,406,000 after purchasing an additional 250 shares during the period. Park Avenue Securities LLC grew its position in Albany International by 11.5% in the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock worth $229,000 after acquiring an additional 342 shares in the last quarter. DAVENPORT & Co LLC grew its position in Albany International by 3.0% in the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock worth $860,000 after acquiring an additional 360 shares in the last quarter. Brooklyn Investment Group grew its position in Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after acquiring an additional 381 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in Albany International by 1.4% during the second quarter. Gilman Hill Asset Management LLC now owns 45,172 shares of the textile maker's stock valued at $3,168,000 after buying an additional 618 shares during the period. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

Shares of NYSE:AIN opened at $55.74 on Wednesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.34 and a beta of 1.36. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $88.13. The firm's 50-day moving average is $59.73 and its 200 day moving average is $64.84.

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

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, September 2nd. Albany International's payout ratio is 54.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AIN. Weiss Ratings reiterated a "hold (c-)" rating on shares of Albany International in a report on Saturday, September 27th. Robert W. Baird downgraded shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target for the company. in a research note on Thursday, July 31st. 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. Finally, Truist Financial reiterated a "hold" rating and set a $55.00 price target (down previously from $70.00) on shares of Albany International in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $69.00.

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.

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