Cubist Systematic Strategies LLC Grows Stake in Albany International Corp. (NYSE:AIN)

Cubist Systematic Strategies LLC raised its stake in Albany International Corp. (NYSE:AIN) by 176.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,900 shares of the textile maker’s stock after purchasing an additional 42,740 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.21% of Albany International worth $5,650,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AIN. Vanguard Group Inc. increased its position in shares of Albany International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after acquiring an additional 11,052 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after acquiring an additional 52,909 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Albany International by 3.5% during the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after acquiring an additional 24,430 shares during the last quarter. Sei Investments Co. increased its position in shares of Albany International by 2.0% during the second quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock worth $59,822,000 after acquiring an additional 13,581 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Albany International by 2.7% during the first quarter. Westwood Holdings Group Inc. now owns 688,522 shares of the textile maker’s stock worth $64,384,000 after acquiring an additional 17,832 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Up 0.0 %

NYSE:AIN opened at $87.19 on Friday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. Albany International Corp. has a one year low of $78.20 and a one year high of $99.41. The stock has a 50-day simple moving average of $88.68 and a 200 day simple moving average of $88.17. 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 (NYSE:AIN) last posted its quarterly 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 during the quarter, compared to analyst estimates of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. Sell-side analysts predict 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. Shareholders of record on Tuesday, September 3rd will be paid a $0.26 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%. Albany International’s payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIN. Truist Financial dropped their target price on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.50.

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.