Brown Advisory Inc. Sells 18,056 Shares of Albany International Corp. (NYSE:AIN)

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

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

Analysts Set New Price Targets

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

Albany International Stock Performance

Albany International stock traded up $1.05 during mid-day trading on Thursday, hitting $65.23. 368,447 shares of the company's stock traded hands, compared to its average volume of 204,047. The company has a market cap of $2.02 billion, a PE ratio of 20.38 and a beta of 1.37. The firm has a 50 day moving average price of $67.93 and a 200 day moving average price of $75.73. Albany International Corp. has a one year low of $57.71 and a one year 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.

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, beating analysts' consensus estimates of $0.58 by $0.15. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. During the same period in the prior year, the company earned $0.90 EPS. Albany International's revenue was down 7.8% on a year-over-year basis. On average, equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio (DPR) is currently 43.55%.

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.