Victory Capital Management Inc. Sells 645,820 Shares of Albany International Corporation $AIN

Victory Capital Management Inc. lowered its holdings in shares of Albany International Corporation (NYSE:AIN) by 74.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 222,001 shares of the textile maker’s stock after selling 645,820 shares during the quarter. Victory Capital Management Inc.’s holdings in Albany International were worth $11,833,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. AlphaQuest LLC purchased a new position in Albany International in the 3rd quarter worth approximately $473,000. New York State Common Retirement Fund boosted its stake in shares of Albany International by 9.9% during the third quarter. New York State Common Retirement Fund now owns 284,671 shares of the textile maker’s stock valued at $15,173,000 after purchasing an additional 25,585 shares during the period. Skylands Capital LLC bought a new position in shares of Albany International in the third quarter worth approximately $1,992,000. American Century Companies Inc. grew its holdings in shares of Albany International by 37.6% in the second quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker’s stock worth $119,079,000 after purchasing an additional 464,040 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Albany International by 49.4% in the third quarter. Citigroup Inc. now owns 48,410 shares of the textile maker’s stock worth $2,580,000 after buying an additional 16,014 shares during the period. 97.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AIN. Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Truist Financial set a $55.00 price objective on shares of Albany International in a research report on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Albany International from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Albany International in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $61.50.

Albany International Stock Down 0.1%

Shares of NYSE AIN opened at $56.05 on Thursday. The firm has a fifty day simple moving average of $57.12 and a two-hundred day simple moving average of $55.01. The firm has a market capitalization of $1.61 billion, a PE ratio of -27.75, a price-to-earnings-growth ratio of 2.17 and a beta of 1.18. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.62. Albany International Corporation has a 12 month low of $41.15 and a 12 month high of $75.15.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, February 24th. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $321.21 million for the quarter, compared to the consensus estimate of $292.32 million. Albany International had a positive return on equity of 9.64% and a negative net margin of 4.85%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. Albany International has set its Q1 2026 guidance at 0.500-0.600 EPS. Equities analysts expect that Albany International Corporation will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be issued a $0.28 dividend. The ex-dividend date is Friday, March 20th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Albany International’s dividend payout ratio is -55.45%.

Albany International 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.