Two Sigma Investments LP Sells 61,686 Shares of Albany International Corp. (NYSE:AIN)

Two Sigma Investments LP trimmed its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 67.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,150 shares of the textile maker's stock after selling 61,686 shares during the quarter. Two Sigma Investments LP owned 0.09% of Albany International worth $2,331,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AIN. Advantage Alpha Capital Partners LP boosted its stake in Albany International by 18.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker's stock valued at $2,252,000 after purchasing an additional 4,307 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock valued at $279,403,000 after buying an additional 12,687 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Albany International during the fourth quarter worth $521,000. Raymond James Financial Inc. purchased a new stake in Albany International in the 4th quarter valued at $19,349,000. Finally, Bank of New York Mellon Corp lifted its stake in Albany International by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock valued at $24,381,000 after acquiring an additional 9,091 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial lowered their target price on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Bank of America reduced their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.00.

Albany International Stock Up 0.3%

AIN traded up $0.22 during trading on Wednesday, reaching $66.48. The stock had a trading volume of 165,875 shares, compared to its average volume of 212,899. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.78 and a beta of 1.37. The stock's 50 day moving average is $65.45 and its two-hundred day moving average is $74.54. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Albany International's revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. As a group, analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's dividend payout ratio is presently 43.55%.

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.