Albany International Corp. (NYSE:AIN) Stock Position Trimmed by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in Albany International Corp. (NYSE:AIN) by 23.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,817 shares of the textile maker’s stock after selling 1,491 shares during the period. ProShare Advisors LLC’s holdings in Albany International were worth $407,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Whittier Trust Co. grew its holdings 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 buying an additional 266 shares in the last quarter. GAMMA Investing LLC increased 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 valued at $57,000 after purchasing an additional 145 shares during the period. Hilltop National Bank raised its stake in shares of 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 raised its stake in shares of 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 stake in Albany International in the first quarter worth about $102,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Performance

NYSE:AIN opened at $87.45 on Wednesday. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $88.65 and a 200-day moving average of $88.08. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The business had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts forecast that Albany International Corp. will post 3.71 earnings per share 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. Investors of record on Tuesday, September 3rd will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. Albany International’s dividend payout ratio (DPR) is 29.21%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial dropped their price target on shares of 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 report on Thursday, August 15th. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.