Citadel Advisors LLC Cuts Stock Holdings in Albany International Corp. (NYSE:AIN)

Citadel Advisors LLC trimmed its position in Albany International Corp. (NYSE:AIN - Free Report) by 34.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,444 shares of the textile maker's stock after selling 36,392 shares during the period. Citadel Advisors LLC owned about 0.23% of Albany International worth $5,633,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AIN. Barclays PLC boosted its holdings in Albany International by 305.5% in the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock worth $4,728,000 after buying an additional 40,101 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International during the 4th quarter worth approximately $226,000. Procyon Advisors LLC acquired a new position in shares of Albany International during the 4th quarter worth approximately $365,000. Integrated Investment Consultants LLC boosted its holdings in shares of Albany International by 3.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock worth $386,000 after purchasing an additional 155 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of 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 worth $20,171,000 after purchasing an additional 34,890 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on AIN shares. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird decreased their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Truist Financial decreased 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. JPMorgan Chase & Co. upped their price objective on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Bank of America decreased their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.00.

Albany International Trading Down 0.5%

NYSE AIN traded down $0.34 on Friday, reaching $65.43. The stock had a trading volume of 172,527 shares, compared to its average volume of 209,808. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 20.45 and a beta of 1.37. 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 Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The stock has a fifty day moving average price of $66.45 and a two-hundred day moving average price of $75.38.

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. The company had revenue of $288.77 million for the quarter, compared to analyst estimates of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, June 6th. Albany International's payout ratio is 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.