Thrivent Financial for Lutherans Sells 1,166 Shares of Albany International Corp. (NYSE:AIN)

Thrivent Financial for Lutherans cut its stake in Albany International Corp. (NYSE:AIN) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,901 shares of the textile maker’s stock after selling 1,166 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Albany International worth $2,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Whittier Trust Co. boosted its stake in shares of Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC boosted its position in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after buying an additional 145 shares during the period. Hilltop National Bank raised its holdings in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of Albany International by 109,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after acquiring an additional 1,091 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Albany International during the 1st quarter valued at $102,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AIN shares. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial reduced their price target on shares of Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Albany International has an average rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Performance

AIN stock opened at $87.45 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. Albany International Corp. has a 1-year low of $78.20 and a 1-year high of $99.41. The business has a 50-day moving average price of $88.65 and a 200 day moving average price of $88.08. The company has a market capitalization of $2.73 billion, a P/E ratio of 24.61, a PEG ratio of 2.42 and a beta of 1.26.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. Albany International’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities research analysts forecast that Albany International Corp. will post 3.71 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s payout ratio is 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.