American Century Companies Inc. Boosts Stock Position in Albany International Corporation $AIN

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American Century Companies Inc. increased its holdings in shares of Albany International Corporation (NYSE:AIN - Free Report) by 45.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,233,925 shares of the textile maker's stock after buying an additional 384,546 shares during the period. American Century Companies Inc. owned about 4.09% of Albany International worth $85,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Albany International during the fourth quarter valued at $40,000. Sterling Capital Management LLC raised its position in shares of Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after purchasing an additional 662 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Albany International during the 1st quarter worth about $105,000. Blue Trust Inc. lifted its stake in Albany International by 48.7% in the 1st quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock valued at $212,000 after buying an additional 1,004 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Albany International in the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Down 1.0%

Shares of AIN opened at $63.09 on Monday. Albany International Corporation has a 52-week low of $50.60 and a 52-week high of $94.20. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $67.69 and a two-hundred day simple moving average of $69.47. The company has a market capitalization of $1.86 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.16). The firm had revenue of $311.40 million for the quarter, compared to analyst estimates of $306.06 million. Albany International had a return on equity of 8.87% and a net margin of 5.25%. Albany International's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, equities analysts forecast that Albany International Corporation will post 3.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on AIN shares. Robert W. Baird cut Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price for the company. in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Truist Financial restated a "hold" rating and issued a $55.00 price objective (down previously from $70.00) on shares of Albany International in a report on Friday, August 1st. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has 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 an average rating of "Hold" and an average target price of $71.40.

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.

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