Sanctuary Advisors LLC Acquires New Shares in Albany International Corp. (NYSE:AIN)

Sanctuary Advisors LLC acquired a new position in shares of Albany International Corp. (NYSE:AIN) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,083 shares of the textile maker’s stock, valued at approximately $1,322,000.

Several other large investors have also recently added to or reduced their stakes in the stock. 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 worth $88,000 after acquiring an additional 134 shares during the period. GAMMA Investing LLC increased its stake in shares of Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the period. Creative Planning raised its holdings in shares of Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock valued at $424,000 after buying an additional 147 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Albany International by 2.0% during the second quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after buying an additional 175 shares during the period. Finally, Dakota Wealth Management grew its holdings in Albany International by 1.5% in the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen reduced their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Truist Financial lowered their target price on shares of Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.50.

Albany International Stock Down 1.9 %

AIN opened at $70.12 on Friday. The stock’s fifty day moving average is $86.35 and its 200-day moving average is $87.28. Albany International Corp. has a one year low of $69.19 and a one year high of $99.41. The company has a market capitalization of $2.19 billion, a PE ratio of 19.70, a P/E/G ratio of 2.42 and a beta of 1.25. 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 issued its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. Albany International’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. On average, equities analysts predict that Albany International Corp. will post 3.71 EPS for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.48%. Albany International’s dividend payout ratio is currently 29.21%.

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.