Public Sector Pension Investment Board Grows Stock Holdings in Albany International Corporation (NYSE:AIN)

Public Sector Pension Investment Board increased its stake in shares of Albany International Corporation (NYSE:AIN) by 27.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,307 shares of the textile maker’s stock after buying an additional 21,178 shares during the quarter. Public Sector Pension Investment Board owned about 0.33% of Albany International worth $6,856,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AIN. Public Employees Retirement System of Ohio purchased a new stake in Albany International in the 4th quarter valued at approximately $40,000. Sterling Capital Management LLC boosted its holdings in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after purchasing an additional 662 shares in the last quarter. Blue Trust Inc. boosted its holdings in Albany International by 48.7% in the 1st quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 1,004 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Albany International during the 1st quarter valued at approximately $212,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Albany International during the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

AIN has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $55.00 price objective (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. Bank of America dropped their price target on Albany International from $75.00 to $65.00 and set an “underperform” rating for the company in a research report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Albany International from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Baird R W downgraded shares of Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, 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 report on Thursday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Albany International presently has a consensus rating of “Hold” and an average price target of $71.40.

Albany International Price Performance

AIN stock opened at $63.09 on Friday. Albany International Corporation has a 1 year low of $50.60 and a 1 year high of $94.20. 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 stock’s 50 day moving average price is $67.69 and its 200 day moving average price is $69.62. The firm has a market cap of $1.86 billion, a P/E ratio of 31.55, a PEG ratio of 1.49 and a beta of 1.38.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.16). Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $311.40 million during the quarter, compared to analysts’ expectations of $306.06 million. During the same period in the previous year, the company posted $0.89 EPS. Albany International’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

About Albany International

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.