Bessemer Group Inc. Trims Position in Albany International Corporation (NYSE:AIN)

Bessemer Group Inc. decreased its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,115 shares of the textile maker's stock after selling 4,899 shares during the quarter. Bessemer Group Inc.'s holdings in Albany International were worth $836,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AIN. Vanguard Group Inc. grew its stake in Albany International by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock worth $279,403,000 after buying an additional 12,687 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of 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 acquiring an additional 99,149 shares during the last quarter. Bank of America Corp DE grew its position in Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock worth $109,075,000 after acquiring an additional 1,320,654 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Albany International by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock valued at $88,217,000 after acquiring an additional 9,226 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Albany International by 3,380.5% during the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after purchasing an additional 824,975 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AIN has been the subject of a number of research reports. Bank of America cut 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, June 2nd. JPMorgan Chase & Co. increased their price target 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. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Truist Financial cut their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Albany International Trading Up 0.5%

AIN stock traded up $0.36 during trading on Friday, hitting $72.23. 150,568 shares of the company traded hands, compared to its average volume of 227,081. The company has a 50-day moving average of $67.29 and a 200-day moving average of $72.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 3.70. Albany International Corporation has a 1 year low of $57.71 and a 1 year high of $95.47. The firm has a market capitalization of $2.18 billion, a PE ratio of 29.13, a P/E/G ratio of 1.66 and a beta of 1.31.

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. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business's quarterly revenue was down 7.8% compared to the same quarter last year. 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 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 dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's payout ratio is 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.