Assenagon Asset Management S.A. Has $14.34 Million Stock Position in Albany International Corp. (NYSE:AIN)

Assenagon Asset Management S.A. increased its holdings in Albany International Corp. (NYSE:AIN) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,340 shares of the textile maker’s stock after acquiring an additional 60,812 shares during the period. Assenagon Asset Management S.A. owned about 0.52% of Albany International worth $14,335,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Albany International by 5,971.5% in the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock worth $57,755,000 after purchasing an additional 672,631 shares in the last quarter. Earnest Partners LLC increased its stake in Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after buying an additional 53,743 shares during the period. Dimensional Fund Advisors LP lifted its position in Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after buying an additional 52,909 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Albany International by 176.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock valued at $5,650,000 after buying an additional 42,740 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Albany International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock valued at $345,580,000 after acquiring an additional 38,446 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIN has been the subject of several recent research reports. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen lowered their price target on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Truist Financial dropped their price objective on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $89.50.

Albany International Price Performance

NYSE AIN opened at $71.11 on Friday. Albany International Corp. has a fifty-two week low of $69.19 and a fifty-two week high of $99.41. The stock’s 50-day moving average is $83.22 and its two-hundred day moving average is $85.86. The firm has a market cap of $2.22 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 2.39 and a beta of 1.25. 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 (NYSE:AIN) last issued its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. On average, analysts anticipate that Albany International Corp. will post 3.11 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio is currently 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.