Albany International Corp. (NYSE:AIN) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Albany International Corp. (NYSE:AIN) by 69.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 999 shares of the textile maker’s stock after selling 2,238 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Albany International were worth $84,000 at the end of the most recent reporting period.

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

Albany International Stock Up 0.0 %

AIN stock opened at $87.19 on Monday. The stock has a market capitalization of $2.72 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. The company has a fifty day moving average of $88.68 and a 200-day moving average of $88.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. Albany International Corp. has a one year low of $78.20 and a one year high of $99.41.

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

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

Analysts Set New Price Targets

AIN has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.