Healthcare of Ontario Pension Plan Trust Fund Sells 26,919 Shares of Albany International Corporation $AIN

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in Albany International Corporation (NYSE:AIN) by 89.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the textile maker’s stock after selling 26,919 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Albany International were worth $172,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. CWM LLC increased its position in shares of Albany International by 39.3% in the fourth quarter. CWM LLC now owns 712 shares of the textile maker’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Albany International by 227.3% during the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Albany International by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after buying an additional 174 shares in the last quarter. Osaic Holdings Inc. grew its stake in Albany International by 42.3% in the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after buying an additional 270 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Albany International by 519.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,382 shares of the textile maker’s stock worth $70,000 after buying an additional 1,159 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Albany International stock opened at $74.57 on Monday. The company has a current ratio of 2.20, a quick ratio of 1.88 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $71.40 and a 200-day moving average of $62.06. The firm has a market cap of $2.12 billion, a P/E ratio of -36.55, a P/E/G ratio of 3.18 and a beta of 1.17. Albany International Corporation has a 1-year low of $41.15 and a 1-year high of $77.00.

Albany International (NYSE:AIN) last posted its earnings results on Thursday, April 30th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The firm had revenue of $311.33 million for the quarter, compared to analysts’ expectations of $281.00 million. Albany International had a positive return on equity of 9.44% and a negative net margin of 4.93%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. Sell-side analysts expect that Albany International Corporation will post 2.79 EPS for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, June 5th. Albany International’s dividend payout ratio (DPR) is presently -54.90%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AIN shares. Weiss Ratings upgraded shares of Albany International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Truist Financial increased their target price on Albany International from $55.00 to $61.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Albany International currently has a consensus rating of “Reduce” and a consensus price target of $54.00.

About Albany International

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.