Millennium Management LLC Sells 1,803 Shares of Albany International Corp. (NYSE:AIN)

Millennium Management LLC reduced its stake in shares of Albany International Corp. (NYSE:AIN) by 1.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 116,965 shares of the textile maker’s stock after selling 1,803 shares during the period. Millennium Management LLC owned about 0.37% of Albany International worth $9,878,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Albany International in the 1st quarter worth approximately $102,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Albany International in the first quarter valued at approximately $128,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Trading Down 1.8 %

Shares of AIN opened at $72.82 on Wednesday. The firm has a market cap of $2.27 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25. Albany International Corp. has a fifty-two week low of $72.47 and a fifty-two week high of $99.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. The business has a 50-day moving average of $87.18 and a 200 day moving average of $87.51.

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). The business had revenue of $331.99 million during 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%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. As a group, research analysts forecast that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Tuesday, September 3rd. Albany International’s payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of brokerages recently commented on AIN. Truist Financial dropped their price target on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen lowered their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Hold” and an average target price of $89.50.

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.