Deerfield Management Company L.P. Series C Has $1.07 Million Stake in Albany International Corp. (NYSE:AIN)

Deerfield Management Company L.P. Series C lifted its holdings in shares of Albany International Corp. (NYSE:AIN) by 292.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,651 shares of the textile maker’s stock after purchasing an additional 9,427 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Albany International were worth $1,068,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AIN. Victory Capital Management Inc. increased its stake in Albany International by 5,971.5% during the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after purchasing an additional 672,631 shares in the last quarter. Norges Bank acquired a new stake in shares of Albany International during the fourth quarter worth $33,273,000. Sei Investments Co. lifted its position in Albany International by 37.2% in the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after acquiring an additional 181,814 shares in the last quarter. Earnest Partners LLC boosted its stake in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after purchasing an additional 53,743 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Albany International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after purchasing an additional 52,909 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

NYSE:AIN opened at $86.51 on Thursday. The stock has a market capitalization of $2.70 billion, a PE ratio of 24.30, a P/E/G ratio of 2.42 and a beta of 1.26. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $88.77 and a 200 day simple moving average of $88.23. Albany International Corp. has a 1-year low of $78.20 and a 1-year high of $99.41.

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

Albany International Dividend Announcement

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

Analyst Ratings Changes

AIN has been the topic of a number of research reports. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Truist Financial decreased their target price on shares of Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Bank of America cut their price target on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International currently has an average rating of “Hold” and an average price target of $95.50.

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.