Arizona State Retirement System Sells 166 Shares of Albany International Corp. (NYSE:AIN)

Arizona State Retirement System trimmed its position in shares of Albany International Corp. (NYSE:AIN) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,717 shares of the textile maker’s stock after selling 166 shares during the period. Arizona State Retirement System’s holdings in Albany International were worth $856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIN. Citigroup Inc. increased its stake in Albany International by 7.1% during the first quarter. Citigroup Inc. now owns 33,541 shares of the textile maker’s stock valued at $2,828,000 after acquiring an additional 2,229 shares during the period. Bank of Montreal Can boosted its holdings in Albany International by 37.7% during the first quarter. Bank of Montreal Can now owns 13,075 shares of the textile maker’s stock valued at $1,125,000 after purchasing an additional 3,578 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Albany International by 56.1% during the first quarter. MetLife Investment Management LLC now owns 16,503 shares of the textile maker’s stock valued at $1,392,000 after purchasing an additional 5,928 shares in the last quarter. Rhumbline Advisers boosted its holdings in Albany International by 0.6% during the first quarter. Rhumbline Advisers now owns 93,759 shares of the textile maker’s stock valued at $7,906,000 after purchasing an additional 529 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Albany International by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,915 shares of the textile maker’s stock valued at $2,354,000 after purchasing an additional 3,442 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AIN shares. Truist Financial lifted their price objective on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Bank of America reaffirmed an “underperform” rating and set a $95.00 price objective (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Albany International currently has a consensus rating of “Moderate Buy” and an average price target of $110.50.

Albany International Stock Down 0.6 %

Shares of AIN opened at $87.95 on Thursday. The company has a market capitalization of $2.74 billion, a P/E ratio of 24.77, a PEG ratio of 2.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. Albany International Corp. has a one year low of $78.20 and a one year high of $99.41. The business’s 50 day simple moving average is $92.02 and its 200-day simple moving average is $89.59.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, topping the consensus estimate of $0.84 by $0.38. The business had revenue of $323.60 million for the quarter, compared to the consensus estimate of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. Albany International’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, sell-side analysts predict that Albany International Corp. will post 3.9 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is currently 29.30%.

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.