Albany International Corp. (NYSE:AIN) Holdings Lowered by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC lowered its stake in Albany International Corp. (NYSE:AIN) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,663 shares of the textile maker’s stock after selling 406 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.13% of Albany International worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UniSuper Management Pty Ltd acquired a new position in Albany International during the first quarter valued at $679,000. Assenagon Asset Management S.A. boosted its holdings in shares of Albany International by 29.7% during the second quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock worth $8,490,000 after purchasing an additional 23,018 shares during the period. Sei Investments Co. grew its position in Albany International by 3.7% during the first quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock valued at $64,970,000 after purchasing an additional 24,720 shares in the last quarter. Vanguard Group Inc. increased its stake in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after buying an additional 11,052 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in Albany International by 9.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock worth $2,677,000 after buying an additional 2,367 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Performance

Albany International stock traded down $1.16 during trading hours on Thursday, reaching $72.15. 17,699 shares of the company were exchanged, compared to its average volume of 152,071. Albany International Corp. has a 12 month low of $69.19 and a 12 month high of $99.41. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $83.93 and a 200 day moving average of $86.11. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.39 and a beta of 1.25.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. Albany International’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that Albany International Corp. will post 3.11 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.44%. Albany International’s payout ratio is 29.21%.

Analyst Ratings Changes

A number of brokerages have commented on AIN. TD Cowen lowered their target price on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Truist Financial decreased their target price on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Hold” and an average price target of $89.50.

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.