Freestone Grove Partners LP Takes Position in Albany International Corp. (NYSE:AIN)

Freestone Grove Partners LP purchased a new position in Albany International Corp. (NYSE:AIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,083 shares of the textile maker's stock, valued at approximately $566,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIN. Northern Trust Corp increased its holdings in Albany International by 12.2% during the 4th quarter. Northern Trust Corp now owns 346,422 shares of the textile maker's stock worth $27,703,000 after purchasing an additional 37,762 shares during the last quarter. Earnest Partners LLC raised its holdings in Albany International by 3.9% in the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock valued at $211,209,000 after acquiring an additional 99,149 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Albany International during the 4th quarter valued at $2,562,000. Voya Investment Management LLC grew its holdings in Albany International by 552.8% during the 4th quarter. Voya Investment Management LLC now owns 260,394 shares of the textile maker's stock worth $20,824,000 after acquiring an additional 220,504 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Albany International by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,695 shares of the textile maker's stock worth $1,655,000 after purchasing an additional 2,017 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

Shares of AIN traded up $0.29 during midday trading on Friday, hitting $65.50. 91,744 shares of the stock traded hands, compared to its average volume of 203,646. The business's 50 day moving average price is $67.73 and its two-hundred day moving average price is $75.67. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47. The firm has a market capitalization of $2.02 billion, a PE ratio of 20.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. Equities research analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a $0.27 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. Albany International's dividend payout ratio (DPR) is 43.55%.

Analyst Ratings Changes

AIN has been the subject of a number of research reports. Bank of America lowered their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. Robert W. Baird lowered their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a research note on Thursday. Truist Financial lowered their target price on shares of Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Albany International has a consensus rating of "Moderate Buy" and an average target price of $80.40.

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.