Illinois Municipal Retirement Fund Has $1.77 Million Stake in Albany International Corp. (NYSE:AIN)

Illinois Municipal Retirement Fund trimmed its position in Albany International Corp. (NYSE:AIN) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,063 shares of the textile maker’s stock after selling 827 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Albany International worth $1,774,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Earnest Partners LLC lifted its holdings in shares of Albany International by 2.0% in the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Albany International by 0.8% in the third quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock valued at $61,925,000 after purchasing an additional 5,374 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Albany International by 12.7% in the third quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock valued at $42,127,000 after purchasing an additional 55,021 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Albany International by 12.1% in the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after purchasing an additional 50,653 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Albany International by 4.9% in the third quarter. Northern Trust Corp now owns 440,156 shares of the textile maker’s stock valued at $37,977,000 after purchasing an additional 20,553 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Price Performance

Shares of NYSE AIN opened at $87.68 on Friday. The business’s 50 day moving average price is $91.56 and its two-hundred day moving average price is $89.69. The company has a market cap of $2.74 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.84 by $0.38. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Albany International Corp. will post 3.93 EPS for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is 29.30%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial upped their target price on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

About Albany International

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.