Envestnet Asset Management Inc. Has $25.71 Million Stake in Albany International Corp. (NYSE:AIN)

Envestnet Asset Management Inc. raised its position in shares of Albany International Corp. (NYSE:AIN) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 304,487 shares of the textile maker’s stock after purchasing an additional 14,700 shares during the quarter. Envestnet Asset Management Inc. owned 0.98% of Albany International worth $25,714,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Whittier Trust Co. lifted its stake 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 acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $57,000 after purchasing an additional 145 shares during the period. Hilltop National Bank grew its position in 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 purchasing an additional 134 shares in the last quarter. TFO Wealth Partners LLC grew its position in Albany International by 109,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after purchasing an additional 1,091 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Albany International in the 1st quarter valued at approximately $102,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America lowered their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 29th. Finally, Truist Financial cut their price target on Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One equities 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. According to MarketBeat.com, Albany International currently has a consensus rating of “Hold” and a consensus target price of $95.50.

Albany International Stock Down 1.7 %

Shares of AIN stock opened at $87.01 on Friday. The stock’s 50 day simple moving average is $89.08 and its 200 day simple moving average is $88.42. 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 Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.36 and a beta of 1.26.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same period last year, the business earned $0.90 EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, research analysts predict that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.20%. Albany International’s dividend payout ratio is 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.