Aristotle Capital Boston LLC Lowers Holdings in Albany International Corp. (NYSE:AIN)

Aristotle Capital Boston LLC reduced its stake in Albany International Corp. (NYSE:AIN - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 420,660 shares of the textile maker's stock after selling 45,912 shares during the period. Albany International makes up 1.2% of Aristotle Capital Boston LLC's portfolio, making the stock its 27th biggest position. Aristotle Capital Boston LLC owned approximately 1.34% of Albany International worth $33,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after buying an additional 503 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Albany International by 735.6% during the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares in the last quarter. Vestcor Inc bought a new position in Albany International during the 4th quarter valued at about $70,000. Covestor Ltd raised its holdings in shares of Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Albany International in the 4th quarter worth $88,000. 97.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Albany International Trading Up 1.8 %

Shares of AIN stock traded up $1.16 during trading hours on Thursday, reaching $65.34. 130,091 shares of the stock were exchanged, compared to its average volume of 202,760. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 20.42 and a beta of 1.37. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The company's 50-day moving average price is $67.93 and its 200-day moving average price is $75.73.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. Albany International's payout ratio 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.