Albany International Corp. (NYSE:AIN) Stock Holdings Lowered by Strs Ohio

Strs Ohio reduced its holdings in Albany International Corp. (NYSE:AINGet Rating) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 13,700 shares of the textile maker’s stock after selling 500 shares during the period. Strs Ohio’s holdings in Albany International were worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIN. Citigroup Inc. increased its position in shares of Albany International by 7.1% in the first quarter. Citigroup Inc. now owns 33,541 shares of the textile maker’s stock worth $2,828,000 after acquiring an additional 2,229 shares in the last quarter. Bank of Montreal Can increased its position in shares of Albany International by 37.7% in the first quarter. Bank of Montreal Can now owns 13,075 shares of the textile maker’s stock worth $1,125,000 after acquiring an additional 3,578 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Albany International by 56.1% in the first quarter. MetLife Investment Management LLC now owns 16,503 shares of the textile maker’s stock worth $1,392,000 after acquiring an additional 5,928 shares in the last quarter. Rhumbline Advisers increased its position in shares of Albany International by 0.6% in the first quarter. Rhumbline Advisers now owns 93,759 shares of the textile maker’s stock worth $7,906,000 after acquiring an additional 529 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Albany International by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,915 shares of the textile maker’s stock worth $2,354,000 after acquiring an additional 3,442 shares in the last quarter. 99.94% of the stock is currently owned by institutional investors.

Albany International Stock Performance

Shares of AIN opened at $109.29 on Friday. The company’s fifty day moving average is $101.17 and its 200-day moving average is $91.28. Albany International Corp. has a 12 month low of $75.24 and a 12 month high of $109.59. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 3.35 and a beta of 1.28. The company has a quick ratio of 3.56, a current ratio of 4.27 and a debt-to-equity ratio of 0.54.

Albany International (NYSE:AINGet Rating) last announced its quarterly earnings results on Monday, October 24th. The textile maker reported $1.15 EPS for the quarter, topping the consensus estimate of $0.84 by $0.31. Albany International had a net margin of 10.56% and a return on equity of 14.83%. The company had revenue of $260.56 million for the quarter, compared to analyst estimates of $244.71 million. Equities analysts expect that Albany International Corp. will post 3.75 EPS for the current fiscal year.

Albany International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Tuesday, December 27th were issued a dividend of $0.25 per share. This is an increase from Albany International’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Friday, December 23rd. Albany International’s dividend payout ratio is currently 29.94%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Albany International from $80.00 to $85.00 in a research report on Monday, January 9th. Robert W. Baird boosted their price objective on shares of Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Wednesday, October 26th. Finally, StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.50.

Albany International Profile

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Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.

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Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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