Sei Investments Co. Raises Holdings in Albany International Corp. (NYSE:AIN)

Sei Investments Co. lifted its stake in Albany International Corp. (NYSE:AIN) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 708,373 shares of the textile maker’s stock after buying an additional 13,581 shares during the quarter. Sei Investments Co. owned approximately 2.27% of Albany International worth $59,822,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new stake in shares of Albany International in the first quarter worth about $679,000. Norges Bank purchased a new stake in shares of Albany International in the fourth quarter worth about $33,273,000. Assenagon Asset Management S.A. boosted its stake in shares of 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 worth $8,490,000 after buying an additional 23,018 shares during the last quarter. 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 during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in 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. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of Albany International stock opened at $87.01 on Monday. The business has a 50 day simple moving average of $89.08 and a two-hundred day simple moving average of $88.38. Albany International Corp. has a 12 month low of $78.20 and a 12 month high of $99.41. The stock has a market capitalization of $2.71 billion, a P/E ratio of 24.44, a PEG ratio of 2.36 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last announced its earnings results 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 net margin of 8.76% and a return on equity of 13.13%. The firm had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same period in the previous year, the company earned $0.90 EPS. Albany International’s revenue was up 21.1% compared to the same quarter last year. As a group, analysts predict that Albany International Corp. will post 3.71 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced 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 is Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.20%. Albany International’s payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AIN shares. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Truist Financial reduced their price target on Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Bank of America reduced their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.