Quantbot Technologies LP Takes $645,000 Position in Albany International Corporation $AIN

Key Points

• Quantbot Technologies LP has acquired a stake of 9,341 shares in Albany International Corporation, valued at approximately $645,000, during the first quarter of the year.
• Multiple institutional investors have increased their holdings in Albany International, with Barclays PLC representing a significant increase of 4.2%, culminating in a total of 55,483 shares valued at $4,437,000.
• Albany International recently declared a quarterly dividend of $0.27 per share, which translates to an annualized dividend of $1.08 and a dividend yield of 1.7%.

Quantbot Technologies LP bought a new stake 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. The institutional investor bought 9,341 shares of the textile maker's stock, valued at approximately $645,000.

Several other hedge funds have also recently made changes to their positions in the business. Brooklyn Investment Group raised its position in shares of Albany International by 2,241.2% during the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after buying an additional 381 shares in the last quarter. Roubaix Capital LLC raised its position in Albany International by 13.4% in the 1st quarter. Roubaix Capital LLC now owns 66,117 shares of the textile maker's stock worth $4,565,000 after purchasing an additional 7,789 shares during the period. American Century Companies Inc. raised its position in Albany International by 45.3% in the 1st quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker's stock worth $85,190,000 after purchasing an additional 384,546 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Albany International in the 1st quarter worth about $105,000. Finally, Public Sector Pension Investment Board raised its position in Albany International by 27.1% in the 1st quarter. Public Sector Pension Investment Board now owns 99,307 shares of the textile maker's stock worth $6,856,000 after purchasing an additional 21,178 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Trading Down 0.7%

AIN stock traded down $0.42 during mid-day trading on Friday, reaching $63.50. The company had a trading volume of 186,576 shares, compared to its average volume of 319,171. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The company has a market capitalization of $1.87 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The firm has a 50 day moving average of $66.75 and a 200 day moving average of $68.26. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $94.20.

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 analysts' consensus estimates of $0.73 by ($0.16). Albany International had a net margin of 5.25% and a return on equity of 8.87%. The business had revenue of $311.40 million for the quarter, compared to the consensus estimate of $306.06 million. During the same quarter in the prior year, the business posted $0.89 earnings per share. Albany International's revenue for the quarter 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, equities analysts predict that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.27 per share. The ex-dividend date 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 (DPR) is currently 54.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird lowered shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 31st. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Bank of America reduced their price objective on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $71.40.

Albany International Company 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.