Ameriprise Financial Inc. Sells 35,683 Shares of Albany International Corp. (NYSE:AIN)

Ameriprise Financial Inc. lowered its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 122,317 shares of the textile maker's stock after selling 35,683 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of Albany International worth $9,783,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AIN. Barclays PLC lifted its position in Albany International by 305.5% during the third quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock valued at $4,728,000 after purchasing an additional 40,101 shares during the period. Procyon Advisors LLC bought a new position in shares of Albany International during the 4th quarter valued at $365,000. Fort Washington Investment Advisors Inc. OH lifted 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 valued at $20,171,000 after buying an additional 34,890 shares during the period. Inspire Investing LLC boosted its stake in shares of Albany International by 7.2% in the 4th quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock worth $400,000 after buying an additional 334 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Albany International by 18.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,014 shares of the textile maker's stock worth $561,000 after acquiring an additional 1,107 shares during the period. Hedge funds and other institutional investors own 97.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIN. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird dropped their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. boosted 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 decreased their price target 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. Finally, Bank of America dropped their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 25th. One 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, Albany International presently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Albany International Stock Performance

Albany International stock traded down $0.34 during midday trading on Friday, hitting $65.43. The stock had a trading volume of 172,527 shares, compared to its average volume of 210,310. Albany International Corp. has a 52-week low of $57.71 and a 52-week high of $95.47. The company has a market capitalization of $1.98 billion, a PE ratio of 20.45 and a beta of 1.37. The firm's fifty day moving average is $66.45 and its two-hundred day moving average is $75.30. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. The firm had revenue of $288.77 million during the quarter, compared to analysts' expectations of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. On average, research analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The firm 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 $0.27 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. Albany International's payout ratio is presently 43.55%.

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.