nVerses Capital LLC Trims Holdings in Albany International Corp. (NYSE:AIN)

nVerses Capital LLC decreased its position in shares of Albany International Corp. (NYSE:AIN) by 56.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,100 shares of the textile maker’s stock after selling 1,400 shares during the quarter. nVerses Capital LLC’s holdings in Albany International were worth $93,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Albany International by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,944 shares of the textile maker’s stock valued at $34,863,000 after acquiring an additional 18,459 shares during the last quarter. Principal Securities Inc. purchased a new stake in Albany International in the fourth quarter valued at $77,000. QRG Capital Management Inc. boosted its holdings in Albany International by 11.6% in the fourth quarter. QRG Capital Management Inc. now owns 3,478 shares of the textile maker’s stock valued at $342,000 after purchasing an additional 361 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Albany International by 11.0% during the 4th quarter. Brown Advisory Inc. now owns 409,688 shares of the textile maker’s stock valued at $40,240,000 after buying an additional 40,627 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Albany International in the 4th quarter valued at about $33,273,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AIN. Truist Financial dropped their target price on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America lowered their price objective on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Finally, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.50.

Albany International Stock Down 5.2 %

Shares of NYSE AIN opened at $88.96 on Wednesday. Albany International Corp. has a 52-week low of $78.20 and a 52-week high of $99.41. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The company’s 50-day simple moving average is $88.43 and its 200-day simple moving average is $89.01. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 2.80 and a beta of 1.26.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 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 analysts’ expectations 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 quarter last year, the firm posted $0.90 earnings per share. Equities analysts predict that Albany International Corp. will post 3.76 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. Albany International’s payout ratio is currently 29.21%.

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.