Albany International Corp. (NYSE:AIN) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC decreased its stake in Albany International Corp. (NYSE:AIN - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,043,455 shares of the textile maker's stock after selling 7,333 shares during the period. Champlain Investment Partners LLC owned 3.33% of Albany International worth $83,445,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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. American Century Companies Inc. boosted its position in shares of Albany International by 3,380.5% in the 4th 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. Massachusetts Financial Services Co. MA purchased a new position in Albany International during the 4th quarter worth approximately $62,181,000. Sei Investments Co. grew its stake in Albany International by 7.0% during the 4th quarter. Sei Investments Co. now owns 729,377 shares of the textile maker's stock worth $58,328,000 after buying an additional 47,936 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Albany International by 1.2% during the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock worth $63,609,000 after buying an additional 8,356 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Performance

Shares of NYSE:AIN traded down $0.14 during midday trading on Tuesday, hitting $62.59. The stock had a trading volume of 121,463 shares, compared to its average volume of 202,202. The company has a market capitalization of $1.93 billion, a PE ratio of 19.54 and a beta of 1.29. Albany International Corp. has a 1 year low of $57.71 and a 1 year high of $95.47. The stock has a 50 day moving average price of $71.63 and a two-hundred day moving average price of $76.50. 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 (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $286.91 million for the quarter, compared to analysts' expectations of $299.52 million. As a group, equities analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were issued a $0.27 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Albany International's dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

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

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.