Albany International Corp. (NYSE:AIN) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its position in Albany International Corp. (NYSE:AIN - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,118 shares of the textile maker's stock after selling 5,141 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.12% of Albany International worth $3,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE increased its stake in Albany International by 3,050.6% during the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after purchasing an additional 1,320,654 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Albany International by 31.0% in the 4th quarter. BNP Paribas Financial Markets now owns 16,475 shares of the textile maker's stock worth $1,318,000 after buying an additional 3,903 shares in the last quarter. Algert Global LLC raised its position in Albany International by 367.8% in the 4th quarter. Algert Global LLC now owns 47,232 shares of the textile maker's stock worth $3,777,000 after buying an additional 37,136 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Albany International during the 4th quarter valued at about $566,000. Finally, Northern Trust Corp grew its stake in shares of Albany International by 12.2% in the fourth quarter. Northern Trust Corp now owns 346,422 shares of the textile maker's stock worth $27,703,000 after acquiring an additional 37,762 shares during the period. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIN. Truist Financial dropped their target price on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Robert W. Baird decreased their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Bank of America dropped their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research report on Tuesday, March 25th. Finally, StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.40.

Albany International Price Performance

NYSE AIN traded up $0.53 on Friday, reaching $68.96. The company had a trading volume of 84,823 shares, compared to its average volume of 205,784. The stock has a market capitalization of $2.08 billion, a PE ratio of 21.55 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 has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The firm's 50 day moving average price is $67.22 and its 200 day moving average price is $75.51.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. The company 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%. The firm's revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, equities analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's payout ratio is 43.55%.

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.