Louisiana State Employees Retirement System Takes $1.53 Million Position in Albany International Corp. (NYSE:AIN)

Louisiana State Employees Retirement System bought a new position in shares of Albany International Corp. (NYSE:AIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,600 shares of the textile maker's stock, valued at approximately $1,532,000. Louisiana State Employees Retirement System owned about 0.05% of Albany International at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Albany International during the third quarter worth $29,000. Bessemer Group Inc. lifted its stake in Albany International by 244.8% during the fourth quarter. Bessemer Group Inc. now owns 462 shares of the textile maker's stock worth $45,000 after purchasing an additional 328 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Albany International during the fourth quarter worth $54,000. Adirondack Trust Co. bought a new position in shares of Albany International in the 3rd quarter valued at $86,000. Finally, Ronald Blue Trust Inc. lifted its stake in shares of Albany International by 234.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,325 shares of the textile maker's stock valued at $124,000 after acquiring an additional 929 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AIN has been the subject of a number of research reports. Bank of America reiterated an "underperform" rating and issued a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial increased their price target on Albany International from $105.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.50.

Albany International Trading Up 0.5 %

NYSE:AIN traded up $0.40 during trading hours on Friday, hitting $88.23. 150,730 shares of the company were exchanged, compared to its average volume of 158,085. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. Albany International Corp. has a one year low of $78.20 and a one year high of $99.41. The company has a fifty day simple moving average of $91.95 and a 200 day simple moving average of $89.63.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.38. The business had revenue of $323.60 million during the quarter, compared to analyst estimates of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. Albany International's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Sell-side analysts expect that Albany International Corp. will post 3.9 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International's dividend payout ratio is currently 29.30%.

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.