Pembroke Management LTD Has $24.50 Million Stake in Albany International Corp. (NYSE:AIN)

Pembroke Management LTD lowered its stake in shares of Albany International Corp. (NYSE:AIN) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,723 shares of the textile maker’s stock after selling 2,801 shares during the quarter. Albany International comprises approximately 3.2% of Pembroke Management LTD’s investment portfolio, making the stock its 12th biggest position. Pembroke Management LTD owned about 0.88% of Albany International worth $24,498,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock worth $14,335,000 after purchasing an additional 60,812 shares in the last quarter. Blue Trust Inc. grew its stake in Albany International by 20.2% during the third quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker’s stock worth $274,000 after buying an additional 545 shares in the last quarter. Creative Planning increased its holdings in Albany International by 18.4% in the 3rd quarter. Creative Planning now owns 5,941 shares of the textile maker’s stock valued at $528,000 after buying an additional 923 shares during the period. Inspire Investing LLC raised its position in shares of Albany International by 12.5% in the 3rd quarter. Inspire Investing LLC now owns 4,670 shares of the textile maker’s stock valued at $415,000 after buying an additional 520 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Albany International by 3.6% during the 3rd quarter. Diversified Trust Co now owns 10,150 shares of the textile maker’s stock worth $902,000 after acquiring an additional 350 shares during the period. Institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

AIN has been the topic of a number of recent analyst reports. TD Cowen decreased their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Truist Financial decreased their price target on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Hold” and an average price target of $88.00.

Albany International Stock Up 2.4 %

Shares of AIN opened at $69.53 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $99.41. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.36 and a beta of 1.25. The stock has a fifty day moving average of $81.30 and a 200-day moving average of $85.19.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.45 by $0.35. The firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.28% and a net margin of 7.92%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. As a group, sell-side analysts anticipate that Albany International Corp. will post 3.12 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Albany International’s payout ratio is 32.50%.

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.