Brown Advisory Inc. Reduces Stock Holdings in Albany International Corporation (NYSE:AIN)

Brown Advisory Inc. lessened its stake in shares of Albany International Corporation (NYSE:AIN - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 396,953 shares of the textile maker's stock after selling 5,180 shares during the period. Brown Advisory Inc. owned approximately 1.28% of Albany International worth $27,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in Albany International by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 274,923 shares of the textile maker's stock valued at $18,981,000 after acquiring an additional 1,904 shares during the period. Principal Financial Group Inc. lifted its stake in Albany International by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 156,089 shares of the textile maker's stock valued at $10,776,000 after acquiring an additional 2,549 shares during the period. Teacher Retirement System of Texas lifted its stake in Albany International by 5.5% during the 1st quarter. Teacher Retirement System of Texas now owns 69,301 shares of the textile maker's stock valued at $4,785,000 after acquiring an additional 3,608 shares during the period. DAVENPORT & Co LLC lifted its stake in Albany International by 3.0% during the 1st quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after acquiring an additional 360 shares during the period. Finally, Essex Financial Services Inc. lifted its stake in Albany International by 10.3% during the 1st quarter. Essex Financial Services Inc. now owns 8,190 shares of the textile maker's stock valued at $565,000 after acquiring an additional 762 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Price Performance

NYSE:AIN traded down $1.22 during trading hours on Friday, reaching $69.78. 218,852 shares of the company were exchanged, compared to its average volume of 229,832. The company has a current ratio of 3.70, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $67.99 and its 200-day moving average is $72.05. The firm has a market cap of $2.11 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. Albany International Corporation has a twelve month low of $57.71 and a twelve month high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released its earnings results 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. Albany International had a net margin of 6.44% and a return on equity of 9.79%. The business 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 earned $0.90 earnings per share. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Friday, June 6th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio is currently 43.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIN. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. 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 note on Friday, May 16th. Bank of America decreased their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. Finally, Truist Financial reduced 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 report on Thursday, April 17th. One equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

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.