Voya Investment Management LLC Has $3.46 Million Stock Position in Albany International Corporation $AIN

Key Points

• Voya Investment Management LLC has significantly reduced its shareholding in Albany International Corporation, cutting its position by 80.8% to approximately $3.46 million in value.
• Multiple institutional investors have increased their stakes in Albany International, with Brooklyn Investment Group notably boosting its position by 2,241.2%.
• The company reported earnings per share (EPS) of $0.57 for the last quarter, missing the consensus estimate by $0.16, while announcing a quarterly dividend of $0.27 per share.

Voya Investment Management LLC decreased its position in shares of Albany International Corporation (NYSE:AIN - Free Report) by 80.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,091 shares of the textile maker's stock after selling 210,303 shares during the period. Voya Investment Management LLC owned 0.17% of Albany International worth $3,458,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group boosted its position in Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after purchasing an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Albany International during the fourth quarter valued at $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Albany International during the first quarter valued at $105,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Albany International during the fourth quarter valued at $213,000. Finally, Blue Trust Inc. boosted its position in Albany International by 48.7% during the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock valued at $212,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AIN. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Bank of America cut 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. Robert W. Baird lowered Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price on the stock. in a report on Thursday, July 31st. Finally, Truist Financial restated a "hold" rating and set a $55.00 target price (down from $70.00) on shares of Albany International in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Albany International currently has a consensus rating of "Hold" and a consensus price target of $71.40.

Albany International Stock Down 2.3%

NYSE AIN opened at $56.27 on Friday. 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 stock's 50 day moving average is $63.57 and its two-hundred day moving average is $66.46. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.37 and a beta of 1.39. Albany International Corporation has a 1-year low of $50.60 and a 1-year high of $89.25.

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). The business had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The firm's revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Equities analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. Albany International's payout ratio is presently 54.00%.

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.

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