Albany International Corporation $AIN Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Albany International Corporation by 27.1%, owning 99,307 shares valued at approximately $6.86 million as of the end of the last quarter.
• Albany International's stock has seen price targets adjusted by analysts, with Truist Financial lowering its target from $70.00 to $55.00 and Bank of America reducing its target to $65.00, signaling concerns about the company’s performance.
• Despite reporting a revenue increase to $311.40 million, Albany International missed earnings expectations with an EPS of $0.57, down from $0.89 the previous year.

Public Sector Pension Investment Board boosted its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 27.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,307 shares of the textile maker's stock after acquiring an additional 21,178 shares during the quarter. Public Sector Pension Investment Board owned about 0.33% of Albany International worth $6,856,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Cetera Investment Advisers raised its position in Albany International by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock worth $298,000 after acquiring an additional 133 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Albany International by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker's stock valued at $261,000 after buying an additional 207 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Albany International by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker's stock valued at $3,925,000 after buying an additional 265 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Albany International by 11.5% in the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock valued at $229,000 after buying an additional 342 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Albany International by 3.0% in the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Price Performance

Albany International stock traded up $0.7660 during midday trading on Tuesday, reaching $62.4960. 217,160 shares of the company were exchanged, compared to its average volume of 267,508. The firm's 50-day simple moving average is $67.56 and its 200-day simple moving average is $69.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International Corporation has a 1 year low of $50.60 and a 1 year high of $94.20. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.48 and a beta of 1.38.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) 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 business had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same period in the previous year, the business posted $0.89 earnings per share. The firm's quarterly revenue was down 6.2% on a year-over-year basis. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. On average, analysts anticipate that Albany International Corporation will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Truist Financial restated a "hold" rating and issued a $55.00 price target (down previously from $70.00) on shares of Albany International in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price target on 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 dropped their price target on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research report on Monday, June 2nd. Finally, Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Albany International currently has an average rating of "Hold" and an average target price of $71.40.

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.