D. E. Shaw & Co. Inc. Trims Position in Albany International Corp. (NYSE:AIN)

D. E. Shaw & Co. Inc. trimmed its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,522 shares of the textile maker's stock after selling 31,180 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.24% of Albany International worth $6,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of AIN. Barclays PLC boosted its holdings in Albany International by 305.5% in the third quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock worth $4,728,000 after acquiring an additional 40,101 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Albany International in the 4th quarter worth about $226,000. Procyon Advisors LLC bought a new position in Albany International in the 4th quarter worth about $365,000. Integrated Investment Consultants LLC grew its position in Albany International by 3.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock valued at $386,000 after purchasing an additional 155 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Albany International by 16.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 252,233 shares of the textile maker's stock valued at $20,171,000 after purchasing an additional 34,890 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Price Performance

AIN stock traded down $1.57 during trading on Tuesday, hitting $67.83. 409,182 shares of the company's stock traded hands, compared to its average volume of 207,953. Albany International Corp. has a 52 week low of $57.71 and a 52 week high of $95.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The business has a fifty day simple moving average of $67.04 and a 200 day simple moving average of $75.58. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.20 and a beta of 1.37.

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 for the quarter, beating the consensus estimate of $0.58 by $0.15. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business's revenue for the quarter was down 7.8% on a year-over-year basis. As a group, research analysts expect that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be issued a $0.27 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.59%. Albany International's payout ratio is 43.55%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday. Bank of America decreased 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 note on Tuesday, March 25th. JPMorgan Chase & Co. increased their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday. 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 report on Friday, February 28th. Finally, Truist Financial reduced their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

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.