Illinois Municipal Retirement Fund Has $1.35 Million Stock Position in Albany International Corp. (NYSE:AIN)

Illinois Municipal Retirement Fund lessened its stake in Albany International Corp. (NYSE:AIN) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,884 shares of the textile maker’s stock after selling 1,211 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Albany International worth $1,350,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock valued at $108,544,000 after buying an additional 36,944 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Albany International in the 3rd quarter valued at approximately $800,000. JPMorgan Chase & Co. boosted its holdings in shares of Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock valued at $7,163,000 after buying an additional 9,931 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Albany International by 5.4% in the 3rd quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock valued at $21,297,000 after buying an additional 12,262 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after buying an additional 36,274 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Up 3.8 %

AIN stock opened at $76.58 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.93 and a beta of 1.34. The business’s fifty day moving average price is $80.43 and its two-hundred day moving average price is $81.50. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $97.60.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). The firm had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. On average, equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s payout ratio is 33.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America dropped their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird dropped their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Albany International has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Company 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.