6,767 Shares in Albany International Corporation (NYSE:AIN) Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC acquired a new stake in Albany International Corporation (NYSE:AIN - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 6,767 shares of the textile maker's stock, valued at approximately $467,000.

Several other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC increased its holdings in Albany International by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker's stock worth $1,372,000 after acquiring an additional 342 shares during the period. Swiss National Bank grew its position in shares of Albany International by 0.8% during the 4th quarter. Swiss National Bank now owns 61,400 shares of the textile maker's stock valued at $4,910,000 after purchasing an additional 500 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Albany International in the fourth quarter worth $234,000. Intech Investment Management LLC increased its holdings in shares of Albany International by 47.5% in the fourth quarter. Intech Investment Management LLC now owns 13,443 shares of the textile maker's stock worth $1,075,000 after purchasing an additional 4,329 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of Albany International in the fourth quarter worth $238,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Truist Financial lowered their price target 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. Bank of America dropped their price target on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. Finally, Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Albany International has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

Albany International Stock Performance

Albany International stock opened at $69.80 on Friday. The stock's 50 day moving average is $68.43 and its 200 day moving average is $71.72. The company has a market capitalization of $2.11 billion, a P/E ratio of 28.15, a PEG ratio of 1.62 and a beta of 1.31. Albany International Corporation has a twelve month low of $57.71 and a twelve month high of $95.47. The company has a quick ratio of 2.92, a current ratio of 3.70 and a debt-to-equity ratio of 0.46.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The business had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same period last year, the business posted $0.90 EPS. The company's revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts predict that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th were paid a $0.27 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.55%. Albany International's dividend payout ratio (DPR) is presently 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.

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