Point72 Asset Management L.P. Boosts Stock Holdings in Albany International Corp. (NYSE:AIN)

Point72 Asset Management L.P. lifted its holdings in shares of Albany International Corp. (NYSE:AIN) by 119.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,700 shares of the textile maker’s stock after buying an additional 3,100 shares during the quarter. Point72 Asset Management L.P.’s holdings in Albany International were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Albany International by 0.3% in the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after acquiring an additional 11,052 shares during the period. Earnest Partners LLC grew its holdings in Albany International by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after buying an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after buying an additional 52,909 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Albany International by 3.5% in the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after buying an additional 24,430 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Albany International by 2.0% in the second quarter. Sei Investments Co. now owns 708,373 shares of the textile maker’s stock valued at $59,822,000 after acquiring an additional 13,581 shares during the period. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AIN shares. TD Cowen lowered their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial dropped their price objective on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One 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. Based on data from MarketBeat, Albany International currently has a consensus rating of “Hold” and a consensus price target of $89.50.

Albany International Stock Up 0.5 %

AIN opened at $77.72 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $87.95 and its 200 day simple moving average is $87.87. Albany International Corp. has a 52 week low of $77.07 and a 52 week high of $99.41. The stock has a market cap of $2.42 billion, a PE ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 1.25.

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

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be paid 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 1.34%. Albany International’s dividend payout ratio (DPR) is 29.21%.

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.