Trexquant Investment LP Acquires Shares of 38,869 Albany International Corporation $AIN

Key Points

• Trexquant Investment LP has invested $2.68 million in Albany International Corporation, acquiring 38,869 shares, which represents about 0.13% ownership in the company.
• Albany International reported $0.57 EPS for the last quarter, missing the consensus estimate by $0.16, with revenue down 6.2% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, equating to an annual yield of 1.8%, with a payout ratio of 54%.

Trexquant Investment LP bought a new position in shares of Albany International Corporation (NYSE:AIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,869 shares of the textile maker's stock, valued at approximately $2,684,000. Trexquant Investment LP owned about 0.13% of Albany International as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock worth $109,075,000 after buying an additional 1,320,654 shares during the period. American Century Companies Inc. increased its position in shares of Albany International by 45.3% during the first 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Albany International by 1.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 961,513 shares of the textile maker's stock valued at $66,383,000 after purchasing an additional 13,251 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Albany International by 6.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 830,948 shares of the textile maker's stock worth $57,369,000 after purchasing an additional 53,400 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Albany International by 2.7% in the 1st quarter. Victory Capital Management Inc. now owns 744,158 shares of the textile maker's stock valued at $51,377,000 after buying an additional 19,621 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Down 1.3%

Shares of Albany International stock traded down $0.82 during trading on Monday, reaching $61.51. The stock had a trading volume of 90,139 shares, compared to its average volume of 264,018. Albany International Corporation has a 52 week low of $50.60 and a 52 week high of $89.66. The stock has a fifty day moving average price of $66.04 and a two-hundred day moving average price of $67.58. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 1.49 and a beta of 1.39.

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

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 2nd. Albany International's dividend payout ratio (DPR) is presently 54.00%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America decreased their price target on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Robert W. Baird lowered Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price for the company. in a research note on Thursday, July 31st. Truist Financial reissued a "hold" rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $71.40.

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.