Teacher Retirement System of Texas Boosts Stock Holdings in Albany International Corporation (NYSE:AIN)

Teacher Retirement System of Texas grew its position in Albany International Corporation (NYSE:AIN - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 69,301 shares of the textile maker's stock after buying an additional 3,608 shares during the period. Teacher Retirement System of Texas owned approximately 0.22% of Albany International worth $4,785,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock valued at $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Albany International by 3.9% during the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock valued at $211,209,000 after purchasing an additional 99,149 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Albany International by 3,050.6% during the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after purchasing an additional 1,320,654 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Albany International by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock valued at $88,217,000 after purchasing an additional 9,226 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Albany International by 3,380.5% during the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after purchasing an additional 824,975 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Truist Financial cut their target price on shares of Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Bank of America cut their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Albany International has an average rating of "Moderate Buy" and an average target price of $79.00.

Albany International Price Performance

Shares of NYSE:AIN traded down $1.22 during midday trading on Friday, reaching $69.78. 218,852 shares of the company were exchanged, compared to its average volume of 229,109. The company has a current ratio of 3.70, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The business's fifty day moving average is $67.86 and its two-hundred day moving average is $72.25. Albany International Corporation has a one year low of $57.71 and a one year high of $95.47. The stock has a market cap of $2.11 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31.

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

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio is currently 43.55%.

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.