Dimensional Fund Advisors LP Purchases 52,909 Shares of Albany International Corp. (NYSE:AIN)

Dimensional Fund Advisors LP raised its position in shares of Albany International Corp. (NYSE:AIN) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,091,660 shares of the textile maker’s stock after buying an additional 52,909 shares during the quarter. Dimensional Fund Advisors LP owned about 3.50% of Albany International worth $92,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. increased its holdings in shares of Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank grew its position in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares during the period. TFO Wealth Partners LLC raised its stake in Albany International by 109,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after buying an additional 1,091 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Albany International during the 1st quarter valued at $102,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Albany International Stock Performance

Shares of AIN opened at $86.58 on Wednesday. The business has a 50-day simple moving average of $88.87 and a two-hundred day simple moving average of $88.24. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.36 and a beta of 1.26.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. Albany International’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, analysts expect that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.20%. Albany International’s payout ratio is presently 29.21%.

Albany International Company Profile

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.