Voya Investment Management LLC Reduces Holdings 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 trimmed its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,091 shares of the textile maker's stock after selling 210,303 shares during the quarter. Voya Investment Management LLC owned about 0.17% of Albany International worth $3,458,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock worth $298,000 after buying an additional 133 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Albany International by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,762 shares of the textile maker's stock valued at $1,420,000 after purchasing an additional 670 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Albany International by 9.9% in the 4th quarter. Quantinno Capital Management LP now owns 4,584 shares of the textile maker's stock valued at $367,000 after purchasing an additional 413 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Albany International by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 9,408 shares of the textile maker's stock valued at $752,000 after purchasing an additional 2,897 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Albany International in the 4th quarter valued at $4,304,000. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on AIN shares. Bank of America reduced their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research note on Monday, June 2nd. Robert W. Baird cut shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price objective for the company. in a research report on Thursday, July 31st. Truist Financial reiterated a "hold" rating and set a $55.00 price objective (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Finally, Baird R W cut shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. One investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $71.40.

Albany International Stock Performance

Shares of Albany International stock traded up $0.19 during mid-day trading on Tuesday, hitting $56.33. 24,840 shares of the stock were exchanged, compared to its average volume of 263,744. Albany International Corporation has a 12 month low of $50.60 and a 12 month high of $89.25. The company has a 50-day simple moving average of $63.30 and a 200 day simple moving average of $66.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The company has a market capitalization of $1.66 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.34 and a beta of 1.39.

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

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors 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 1.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Albany International's payout ratio is 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.