Albany International Corp. (NYSE:AIN) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. decreased its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,133 shares of the textile maker's stock after selling 18,056 shares during the period. Brown Advisory Inc. owned about 1.28% of Albany International worth $32,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Albany International by 14.0% in the third quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker's stock valued at $7,163,000 after purchasing an additional 9,931 shares during the period. Advantage Alpha Capital Partners LP increased its stake in Albany International by 18.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker's stock worth $2,252,000 after buying an additional 4,307 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock valued at $52,071,000 after acquiring an additional 36,274 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Albany International by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock valued at $279,403,000 after acquiring an additional 12,687 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Albany International in the fourth quarter worth approximately $521,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Up 0.6 %

NYSE:AIN traded up $0.41 during midday trading on Friday, hitting $65.62. 200,724 shares of the company were exchanged, compared to its average volume of 204,906. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The company has a market capitalization of $1.98 billion, a PE ratio of 20.51 and a beta of 1.37. The company has a fifty day simple moving average of $67.62 and a 200 day simple moving average of $75.64.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $288.77 million during the quarter, compared to analysts' expectations of $300.74 million. During the same period in the prior year, the firm earned $0.90 EPS. The business's revenue was down 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's payout ratio is currently 43.55%.

Analysts Set New Price Targets

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

Albany International Company 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.