Connors Investor Services Inc. Purchases New Holdings in Albany International Corp. (NYSE:AIN)

Connors Investor Services Inc. bought a new stake in Albany International Corp. (NYSE:AIN) during the 2nd quarter, HoldingsChannel reports. The fund bought 30,224 shares of the textile maker’s stock, valued at approximately $2,552,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after purchasing an additional 11,052 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Albany International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after acquiring an additional 52,909 shares during the last quarter. William Blair Investment Management LLC raised its stake in Albany International by 3.5% during the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker’s stock worth $61,335,000 after acquiring an additional 24,430 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Albany International by 3.7% in the first quarter. Sei Investments Co. now owns 694,792 shares of the textile maker’s stock worth $64,970,000 after acquiring an additional 24,720 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Albany International by 2.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 688,522 shares of the textile maker’s stock valued at $64,384,000 after purchasing an additional 17,832 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AIN shares. Truist Financial dropped their price objective on shares of Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Bank of America dropped 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.50.

Albany International Trading Up 0.3 %

AIN opened at $85.71 on Tuesday. The stock has a market cap of $2.67 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International Corp. has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a fifty day moving average of $88.86 and a 200-day moving average of $88.55.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that Albany International Corp. will post 3.71 EPS for the current year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 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.