State of New Jersey Common Pension Fund D Has $2.01 Million Stock Position in Albany International Corporation $AIN

State of New Jersey Common Pension Fund D increased its stake in shares of Albany International Corporation (NYSE:AIN) by 17.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,637 shares of the textile maker’s stock after buying an additional 4,355 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Albany International were worth $2,008,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AIN. American Century Companies Inc. lifted its position in Albany International by 45.3% during the 1st quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker’s stock valued at $85,190,000 after purchasing an additional 384,546 shares during the period. Nuveen LLC acquired a new position in Albany International during the 1st quarter valued at about $18,985,000. Select Equity Group L.P. lifted its position in Albany International by 784.2% during 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 during the period. Jane Street Group LLC acquired a new position in Albany International during the 1st quarter valued at about $7,468,000. Finally, Millennium Management LLC lifted its position in Albany International by 464.4% during 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 during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on AIN shares. JPMorgan Chase & Co. upped their target price on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. 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 report on Thursday, July 31st. Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. 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, Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down from $70.00) on shares of Albany International in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.50.

Albany International Price Performance

NYSE AIN opened at $56.79 on Friday. The business has a 50 day simple moving average of $58.25 and a 200 day simple moving average of $63.69. 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 stock 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 issued its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. The company had revenue of $239.92 million during the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Analysts anticipate 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend 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 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.