Albany International Corp. (NYSE:AIN) Stock Holdings Lifted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its holdings in Albany International Corp. (NYSE:AIN) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,806 shares of the textile maker’s stock after buying an additional 330 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.49% of Albany International worth $12,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Albany International in the 4th quarter worth approximately $47,000. Whittier Trust Co. lifted its stake in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after buying an additional 266 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Albany International during the 4th quarter worth $77,000. Hilltop National Bank lifted its holdings 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 worth $88,000 after buying an additional 134 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Albany International by 109,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after acquiring an additional 1,091 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America lowered their target price on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. JPMorgan Chase & Co. reduced their price target on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial reduced their price objective on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.50.

Albany International Price Performance

Albany International stock opened at $94.03 on Friday. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.65 and a beta of 1.26. The business has a 50-day simple moving average of $88.16 and a 200 day simple moving average of $89.04. The company has a quick ratio of 3.20, a current ratio of 3.99 and a debt-to-equity ratio of 0.45. Albany International Corp. has a 52 week low of $78.20 and a 52 week high of $99.41.

Albany International (NYSE:AIN) last issued 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 return on equity of 13.40% and a net margin of 9.35%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, research analysts forecast that Albany International Corp. will post 3.79 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, September 3rd. 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.