Albany International Corp. (NYSE:AIN) Stake Boosted by Inspire Investing LLC

Inspire Investing LLC increased its stake in Albany International Corp. (NYSE:AIN) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,150 shares of the textile maker’s stock after purchasing an additional 297 shares during the quarter. Inspire Investing LLC’s holdings in Albany International were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AIN. Norges Bank purchased a new position in Albany International in the 4th quarter worth about $33,273,000. Corient Private Wealth LLC increased its holdings in shares of Albany International by 15.9% in the 4th quarter. Corient Private Wealth LLC now owns 20,643 shares of the textile maker’s stock valued at $2,028,000 after purchasing an additional 2,832 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of Albany International in the 4th quarter valued at about $584,000. TFO Wealth Partners LLC increased its holdings in shares of Albany International by 109,100.0% in the 4th 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 during the period. Finally, Eagle Asset Management Inc. increased its holdings in shares of Albany International by 0.8% in the 4th quarter. Eagle Asset Management Inc. now owns 231,998 shares of the textile maker’s stock valued at $22,787,000 after purchasing an additional 1,838 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 0.9 %

NYSE:AIN opened at $86.23 on Tuesday. The stock’s 50 day moving average price is $89.01 and its 200 day moving average price is $88.31. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41. The company has a market capitalization of $2.69 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.36 and a beta of 1.26. 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 released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $318.17 million. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, research analysts forecast that Albany International Corp. will post 3.71 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be issued 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 1.21%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AIN shares. 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 report on Wednesday, July 17th. Bank of America dropped their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.50.

Albany International 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.