Blue Trust Inc. Boosts Position in Albany International Corp. (NYSE:AIN)

Blue Trust Inc. lifted its holdings in shares of Albany International Corp. (NYSE:AIN) by 20.2% in the third quarter, Holdings Channel.com reports. The fund owned 3,245 shares of the textile maker’s stock after purchasing an additional 545 shares during the period. Blue Trust Inc.’s holdings in Albany International were worth $274,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AIN. Whittier Trust Co. raised its holdings in Albany International by 94.7% in the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 145 shares during the period. Hilltop National Bank boosted its position in Albany International by 14.7% during 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Albany International during the 1st quarter worth approximately $102,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Albany International in the 1st quarter worth approximately $128,000. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of NYSE:AIN opened at $71.48 on Friday. Albany International Corp. has a 1-year low of $69.19 and a 1-year high of $99.41. The business has a fifty day moving average price of $83.57 and a 200-day moving average price of $86.01. The company has a market capitalization of $2.23 billion, a PE ratio of 20.08, a PEG ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (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 firm had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. During the same period last year, the firm posted $0.90 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities analysts expect that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.45%. Albany International’s dividend payout ratio is 29.21%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AIN shares. 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. TD Cowen decreased their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, StockNews.com raised shares of 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 given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.50.

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.