Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in Albany International Corporation $AIN

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Albany International Corporation (NYSE:AIN) by 89.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,297 shares of the textile maker’s stock after selling 26,919 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Albany International were worth $172,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Albany International by 7.5% in the first quarter. Royal Bank of Canada now owns 15,590 shares of the textile maker’s stock worth $1,076,000 after buying an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Albany International by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,569 shares of the textile maker’s stock valued at $1,282,000 after buying an additional 807 shares in the last quarter. Millennium Management LLC lifted its position in shares of 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 buying an additional 75,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Albany International by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,199 shares of the textile maker’s stock valued at $4,087,000 after acquiring an additional 3,559 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Albany International during the 1st quarter valued at approximately $7,468,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AIN. Weiss Ratings upgraded shares of Albany International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Truist Financial raised their price objective on shares of Albany International from $55.00 to $61.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Albany International has a consensus rating of “Reduce” and a consensus price target of $54.00.

Albany International Stock Up 0.1%

Shares of AIN stock opened at $74.57 on Monday. The company’s fifty day simple moving average is $71.40 and its two-hundred day simple moving average is $62.06. Albany International Corporation has a 52 week low of $41.15 and a 52 week high of $77.00. The stock has a market cap of $2.12 billion, a P/E ratio of -36.55, a PEG ratio of 3.18 and a beta of 1.17. The company has a quick ratio of 1.88, a current ratio of 2.20 and a debt-to-equity ratio of 0.65.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Thursday, April 30th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Albany International had a positive return on equity of 9.44% and a negative net margin of 4.93%.The firm had revenue of $311.33 million during the quarter, compared to analyst estimates of $281.00 million. During the same quarter last year, the business posted $0.73 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Albany International Corporation will post 2.79 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. Albany International’s dividend payout ratio is presently -54.90%.

Albany International Company Profile

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.