Albany International Corp. (NYSE:AIN) Stock Holdings Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,317 shares of the textile maker's stock after selling 35,683 shares during the period. Ameriprise Financial Inc. owned 0.39% of Albany International worth $9,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Algert Global LLC boosted its stake in Albany International by 367.8% in the fourth quarter. Algert Global LLC now owns 47,232 shares of the textile maker's stock valued at $3,777,000 after acquiring an additional 37,136 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Albany International in the 4th quarter worth approximately $566,000. Northern Trust Corp boosted its position in Albany International by 12.2% during the 4th quarter. Northern Trust Corp now owns 346,422 shares of the textile maker's stock valued at $27,703,000 after purchasing an additional 37,762 shares during the period. Earnest Partners LLC grew its stake in Albany International by 3.9% during the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock worth $211,209,000 after buying an additional 99,149 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Albany International during the 4th quarter worth $2,562,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Performance

AIN stock opened at $69.42 on Tuesday. The company has a 50-day simple moving average of $67.04 and a 200 day simple moving average of $75.58. The company has a market capitalization of $2.10 billion, a P/E ratio of 21.69 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 fifty-two week low of $57.71 and a fifty-two week high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. The company had revenue of $288.77 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Sell-side analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, June 6th. Albany International's payout ratio is currently 43.55%.

Wall Street Analyst Weigh In

AIN has been the subject of several analyst reports. Robert W. Baird reduced their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Truist Financial cut their price objective on shares of 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 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 report on Tuesday, March 25th. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $81.00.

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.

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