AdvisorShares Investments LLC Buys New Holdings in Albany International Corporation $AIN

AdvisorShares Investments LLC bought a new stake in Albany International Corporation (NYSE:AIN) in the 2nd quarter, Holdings Channel.com reports. The firm bought 6,600 shares of the textile maker’s stock, valued at approximately $463,000.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Albany International in the 1st quarter valued at about $18,985,000. Entropy Technologies LP acquired a new stake in Albany International in the 1st quarter valued at about $407,000. Jump Financial LLC acquired a new stake in Albany International in the 1st quarter valued at about $1,740,000. Teacher Retirement System of Texas lifted its stake in Albany International by 5.5% in the 1st quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker’s stock valued at $4,785,000 after purchasing an additional 3,608 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Albany International in the 1st quarter valued at about $416,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. Baird R W downgraded shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.50.

Albany International Stock Down 0.4%

NYSE AIN opened at $56.79 on Friday. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. Albany International Corporation has a 1-year low of $50.60 and a 1-year high of $88.13. The company has a 50 day moving average of $58.25 and a 200-day moving average of $63.69. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.36 and a beta of 1.36.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $239.92 million during the quarter. On average, equities research analysts expect that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, September 2nd. Albany International’s payout ratio is presently 54.00%.

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.