Algert Global LLC Has $3.78 Million Position in Albany International Corp. (NYSE:AIN)

Algert Global LLC raised its position in Albany International Corp. (NYSE:AIN - Free Report) by 367.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,232 shares of the textile maker's stock after buying an additional 37,136 shares during the period. Algert Global LLC owned about 0.15% of Albany International worth $3,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AIN. Vanguard Group Inc. boosted its stake in Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock worth $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Albany International by 3.9% in the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock worth $211,209,000 after acquiring an additional 99,149 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Albany International by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock valued at $88,217,000 after acquiring an additional 9,226 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Albany International by 3,380.5% in the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after purchasing an additional 824,975 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in Albany International during the fourth quarter worth about $62,181,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Albany International Trading Up 4.0%

NYSE:AIN traded up $2.59 during mid-day trading on Monday, reaching $68.15. The company's stock had a trading volume of 44,975 shares, compared to its average volume of 234,261. The stock has a market cap of $2.06 billion, a P/E ratio of 21.30 and a beta of 1.37. Albany International Corp. has a twelve month low of $57.71 and a twelve month high of $95.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company's fifty day simple moving average is $67.62 and its two-hundred day simple moving average is $75.67.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. The firm had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Albany International's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, equities analysts predict that Albany International Corp. will post 3.23 EPS for the current 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. This represents a $1.08 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, March 21st. Albany International's dividend payout ratio (DPR) is 43.55%.

About Albany International

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.