Teacher Retirement System of Texas Grows Stake in Albany International Corporation (NYSE:AIN)

Teacher Retirement System of Texas increased its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,301 shares of the textile maker's stock after purchasing an additional 3,608 shares during the quarter. Teacher Retirement System of Texas owned 0.22% of Albany International worth $4,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in shares of Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after purchasing an additional 133 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Albany International by 6.8% during the fourth 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 in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Albany International by 0.5% during 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 purchasing an additional 265 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Albany International by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker's stock valued at $1,372,000 after purchasing an additional 342 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Albany International by 11.5% during the first 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 in the last quarter. 97.37% of the stock is owned by institutional investors.

Albany International Stock Down 2.0%

AIN stock opened at $70.79 on Tuesday. Albany International Corporation has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The business's 50-day moving average is $67.50 and its two-hundred day moving average is $72.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 3.70. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.66 and a beta of 1.31.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, topping the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same quarter last year, the company earned $0.90 earnings per share. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's dividend payout ratio (DPR) is currently 43.55%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIN. Truist Financial lowered their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Bank of America lowered their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Albany International currently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

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.

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