Connors Investor Services Inc. Has $2.73 Million Stake in Albany International Corporation $AIN

Connors Investor Services Inc. boosted its position in shares of Albany International Corporation (NYSE:AIN) by 40.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,890 shares of the textile maker’s stock after buying an additional 11,112 shares during the period. Connors Investor Services Inc.’s holdings in Albany International were worth $2,727,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AIN. American Century Companies Inc. grew its stake in Albany International by 45.3% during the first quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker’s stock worth $85,190,000 after buying an additional 384,546 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Albany International in the 1st quarter valued at approximately $18,985,000. Select Equity Group L.P. boosted its stake in shares of Albany International by 784.2% in the 1st quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker’s stock valued at $8,717,000 after purchasing an additional 111,983 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Albany International in the 1st quarter valued at approximately $7,468,000. Finally, Millennium Management LLC boosted its stake in shares of Albany International by 464.4% in the 1st quarter. Millennium Management LLC now owns 91,934 shares of the textile maker’s stock valued at $6,347,000 after purchasing an additional 75,644 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AIN shares. Robert W. Baird downgraded shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target on the stock. in a research note on Thursday, July 31st. Truist Financial restated a “hold” rating and issued a $55.00 price target (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Albany International has a consensus rating of “Hold” and an average target price of $65.50.

Albany International Stock Down 1.3%

Shares of NYSE AIN opened at $57.24 on Thursday. The company has a market capitalization of $1.69 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $88.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The company’s 50 day moving average price is $58.66 and its 200-day moving average price is $63.85.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $239.92 million for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Equities analysts forecast that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

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