Oppenheimer Asset Management Inc. Sells 1,071 Shares of Albany International Corporation $AIN

Oppenheimer Asset Management Inc. lowered its stake in shares of Albany International Corporation (NYSE:AIN) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,591 shares of the textile maker’s stock after selling 1,071 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Albany International were worth $2,917,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AIN. Nuveen LLC bought a new position in Albany International during the first quarter valued at about $18,985,000. Jump Financial LLC bought a new position in Albany International during the first quarter valued at about $1,740,000. Entropy Technologies LP bought a new position in Albany International during the first quarter valued at about $407,000. Teacher Retirement System of Texas grew its position in Albany International by 5.5% during the first quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker’s stock valued at $4,785,000 after buying an additional 3,608 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Albany International during the first quarter valued at about $416,000. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AIN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. Truist Financial restated a “hold” rating and set a $55.00 price target (down previously from $70.00) on shares of Albany International in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price target 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 lowered shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Thursday, July 31st. Finally, Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.50.

Albany International Price Performance

Shares of NYSE:AIN opened at $56.86 on Thursday. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.68 billion, a PE ratio of 28.43, a P/E/G ratio of 1.41 and a beta of 1.36. Albany International Corporation has a twelve month low of $50.60 and a twelve month high of $88.13. The company has a 50-day moving average price of $58.36 and a two-hundred day moving average price of $63.74.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm had revenue of $239.92 million during the quarter. Equities analysts forecast that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Albany International’s dividend payout ratio is presently 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.