Connors Investor Services Inc. Buys 11,112 Shares of Albany International Corporation $AIN

Connors Investor Services Inc. lifted its stake in shares of Albany International Corporation (NYSE:AIN) by 40.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,890 shares of the textile maker’s stock after acquiring an additional 11,112 shares during the period. Connors Investor Services Inc. owned approximately 0.13% of Albany International worth $2,727,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group lifted its position in shares of Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Albany International in the second quarter worth $101,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Albany International in the first quarter worth $105,000. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 73.0% in the second quarter. Central Pacific Bank Trust Division now owns 2,880 shares of the textile maker’s stock worth $202,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Albany International in the first quarter worth $212,000. Institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AIN shares. Baird R W lowered shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Zacks Research raised shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target 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. Truist Financial reaffirmed a “hold” rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. Finally, Robert W. Baird lowered 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 report on Thursday, July 31st. One equities research 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’s stock. According to MarketBeat.com, Albany International has an average rating of “Hold” and an average target price of $65.50.

Albany International Price Performance

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

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

Albany International Dividend Announcement

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