The Manufacturers Life Insurance Company Acquires 407 Shares of Albany International Corp. (NYSE:AIN)

The Manufacturers Life Insurance Company lifted its holdings in shares of Albany International Corp. (NYSE:AIN) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,378 shares of the textile maker’s stock after acquiring an additional 407 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Albany International worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. raised 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 raised its holdings 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 valued at $57,000 after acquiring an additional 145 shares in the last quarter. Hilltop National Bank raised its holdings in shares of Albany International by 14.7% during the second 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Albany International during the first quarter valued at approximately $102,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Albany International during the first quarter valued at approximately $128,000. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

AIN has been the topic of several recent research reports. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial reduced their price target on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price target on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Albany International currently has a consensus rating of “Hold” and a consensus price target of $89.50.

Albany International Trading Down 1.9 %

NYSE AIN opened at $70.12 on Friday. Albany International Corp. has a 12 month low of $69.19 and a 12 month high of $99.41. The stock has a market cap of $2.19 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.42 and a beta of 1.25. The stock’s fifty day moving average price is $86.35 and its 200-day moving average price is $87.28. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38.

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). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. As a group, equities analysts forecast that Albany International Corp. will post 3.71 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s payout ratio is currently 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.