William Blair Investment Management LLC Sells 19,917 Shares of Albany International Corporation $AIN

Key Points

• William Blair Investment Management LLC reduced its stake in Albany International Corporation by 2.8%, selling 19,917 shares, and now holds about 2.33% of the company valued at approximately $49.26 million.
• Albany International recently announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 1.9% with a payout ratio of 54%.
• Albany International's stock has a market cap of $1.65 billion and currently shows a P/E ratio of 28.05, indicating market valuation in relation to its earnings.

William Blair Investment Management LLC decreased its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 702,432 shares of the textile maker's stock after selling 19,917 shares during the period. William Blair Investment Management LLC owned about 2.33% of Albany International worth $49,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in Albany International by 5.6% during the second quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker's stock worth $227,000 after purchasing an additional 172 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Albany International by 2.9% in the second quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker's stock valued at $488,000 after acquiring an additional 193 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Albany International by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker's stock valued at $3,406,000 after acquiring an additional 250 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Albany International by 3.0% in the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after acquiring an additional 360 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

Shares of Albany International stock opened at $56.09 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The firm has a market cap of $1.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.34 and a beta of 1.36. The firm has a 50 day simple moving average of $58.99 and a 200 day simple moving average of $63.98. Albany International Corporation has a fifty-two week low of $50.60 and a fifty-two week high of $88.13.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. The business had revenue of $239.92 million during the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Sell-side analysts predict 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 was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International's payout ratio is currently 54.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AIN shares. Truist Financial reiterated a "hold" rating and issued a $55.00 target price (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $59.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday. 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Albany International in a research note on Wednesday, October 8th. Finally, Robert W. Baird cut shares of 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.50.

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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