State of Alaska Department of Revenue Sells 514 Shares of Albany International Corp. (NYSE:AIN)

State of Alaska Department of Revenue trimmed its position in shares of Albany International Corp. (NYSE:AIN) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,805 shares of the textile maker’s stock after selling 514 shares during the period. State of Alaska Department of Revenue’s holdings in Albany International were worth $1,581,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new stake in Albany International in the 1st quarter worth approximately $679,000. Assenagon Asset Management S.A. boosted its holdings in Albany International by 29.7% in the second quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock valued at $8,490,000 after acquiring an additional 23,018 shares in the last quarter. Sei Investments Co. increased its position in Albany International by 3.7% during the 1st quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock valued at $64,970,000 after purchasing an additional 24,720 shares during the period. Vanguard Group Inc. raised its holdings in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Albany International by 9.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,687 shares of the textile maker’s stock worth $2,677,000 after purchasing an additional 2,367 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AIN shares. TD Cowen reduced their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Truist Financial decreased their target price on Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.00.

Albany International Price Performance

AIN stock opened at $69.53 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. The firm has a 50 day moving average price of $81.30 and a 200-day moving average price of $85.22. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $99.41. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.36 and a beta of 1.25.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.28% and a net margin of 7.92%. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Albany International Corp. will post 3.12 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.50%. Albany International’s dividend payout ratio is currently 32.50%.

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.