Dimensional Fund Advisors LP Trims Stock Position in Albany International Corp. (NYSE:AIN)

Dimensional Fund Advisors LP reduced its stake in Albany International Corp. (NYSE:AIN – Get Rating) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,146,853 shares of the textile maker’s stock after selling 11,102 shares during the period. Dimensional Fund Advisors LP’s holdings in Albany International were worth $113,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AIN. State of Alaska Department of Revenue increased its position in Albany International by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 21,655 shares of the textile maker’s stock worth $2,134,000 after purchasing an additional 112 shares during the period. Park Avenue Securities LLC lifted its holdings in Albany International by 4.4% in the third quarter. Park Avenue Securities LLC now owns 2,654 shares of the textile maker’s stock valued at $209,000 after acquiring an additional 113 shares during the period. Captrust Financial Advisors grew its stake in shares of Albany International by 9.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,512 shares of the textile maker’s stock worth $119,000 after purchasing an additional 132 shares during the period. Arizona State Retirement System increased its holdings in shares of Albany International by 2.5% in the 4th quarter. Arizona State Retirement System now owns 8,775 shares of the textile maker’s stock valued at $865,000 after purchasing an additional 215 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Albany International by 6.7% during the third quarter. Vestmark Advisory Solutions Inc. now owns 3,438 shares of the textile maker’s stock worth $271,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 99.94% of the company’s stock.

Insiders Place Their Bets

In other Albany International news, SVP Robert Alan Hansen sold 1,900 shares of Albany International stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $101.93, for a total transaction of $193,667.00. Following the transaction, the senior vice president now directly owns 11,504 shares of the company’s stock, valued at $1,172,602.72. The sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIN shares. Truist Financial raised shares of Albany International from a “hold” rating to a “buy” rating and increased their target price for the company from $90.00 to $105.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. StockNews.com started coverage on Albany International in a research note on Thursday. They set a “buy” rating for the company.

Albany International Stock Performance

NYSE AIN opened at $89.92 on Friday. The company has a quick ratio of 3.98, a current ratio of 4.82 and a debt-to-equity ratio of 0.55. Albany International Corp. has a fifty-two week low of $75.24 and a fifty-two week high of $115.39. The business has a fifty day moving average of $89.80 and a 200-day moving average of $98.15. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 3.16 and a beta of 1.31.

Albany International (NYSE:AIN – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Albany International had a net margin of 8.96% and a return on equity of 14.14%. The business had revenue of $269.10 million during the quarter, compared to analyst estimates of $255.14 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Albany International Corp. will post 3.66 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Wednesday, June 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Albany International’s dividend payout ratio is presently 33.00%.

About Albany International

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.