State of New Jersey Common Pension Fund D Sells 1,737 Shares of Albany International Corp. (NYSE:AIN)

State of New Jersey Common Pension Fund D lessened its holdings in Albany International Corp. (NYSE:AINGet Rating) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,045 shares of the textile maker’s stock after selling 1,737 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Albany International were worth $2,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE lifted its holdings in Albany International by 21.0% during the third quarter. US Bancorp DE now owns 21,931 shares of the textile maker’s stock worth $1,729,000 after buying an additional 3,805 shares during the period. Assenagon Asset Management S.A. boosted its position in Albany International by 21.7% during the third quarter. Assenagon Asset Management S.A. now owns 53,141 shares of the textile maker’s stock valued at $4,189,000 after purchasing an additional 9,493 shares in the last quarter. Truist Financial Corp grew its stake in Albany International by 1.6% in the third quarter. Truist Financial Corp now owns 30,106 shares of the textile maker’s stock valued at $2,373,000 after purchasing an additional 484 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Albany International by 12.7% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,003 shares of the textile maker’s stock valued at $946,000 after buying an additional 1,354 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Albany International by 136.4% during the third quarter. Fifth Third Bancorp now owns 22,975 shares of the textile maker’s stock valued at $1,811,000 after buying an additional 13,258 shares during the last quarter. 99.94% of the stock is currently owned by institutional investors.

Albany International Trading Down 0.8 %

NYSE AIN opened at $104.67 on Friday. The stock has a market cap of $3.26 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.61 and a beta of 1.28. The company has a current ratio of 4.27, a quick ratio of 3.56 and a debt-to-equity ratio of 0.54. Albany International Corp. has a 12-month low of $75.24 and a 12-month high of $109.99. The company has a fifty day simple moving average of $101.73 and a two-hundred day simple moving average of $92.06.

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

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Tuesday, December 27th were given a $0.25 dividend. The ex-dividend date was Friday, December 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Albany International’s previous quarterly dividend of $0.21. Albany International’s dividend payout ratio is currently 29.94%.

Analysts Set New Price Targets

AIN has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Albany International from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 26th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Finally, Truist Financial increased their price objective on Albany International from $80.00 to $85.00 in a report on Monday, January 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.50.

Albany International Company 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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