Beverly Hills Private Wealth LLC Cuts Stock Holdings in Albany International Corp. (NYSE:AIN)

Beverly Hills Private Wealth LLC lowered its position in Albany International Corp. (NYSE:AIN) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,767 shares of the textile maker’s stock after selling 185 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Albany International were worth $234,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AIN. Whittier Trust Co. grew its position in Albany International by 94.7% in the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Albany International during the fourth quarter valued at approximately $77,000. Hilltop National Bank lifted its holdings in 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 acquiring an additional 134 shares during the period. Finally, TFO Wealth Partners LLC boosted its position in Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,091 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AIN shares. Bank of America decreased their target price on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research report on Wednesday, May 29th. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial reduced their target price on shares of Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. 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. Based on data from MarketBeat, Albany International currently has an average rating of “Hold” and a consensus target price of $95.50.

Albany International Trading Up 0.7 %

Shares of Albany International stock opened at $85.44 on Friday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.36 and a beta of 1.26. Albany International Corp. has a 52-week low of $78.20 and a 52-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 stock’s 50-day simple moving average is $88.74 and its 200 day simple moving average is $88.73.

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 anticipate 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 will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 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.