Brown Advisory Inc. Has $27.41 Million Stock Holdings in Albany International Corporation (NYSE:AIN)

Brown Advisory Inc. trimmed its stake in Albany International Corporation (NYSE:AIN - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of Albany International by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after purchasing an additional 133 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Albany International by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker's stock worth $261,000 after buying an additional 207 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Albany International by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker's stock worth $3,925,000 after buying an additional 265 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Albany International by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker's stock worth $1,372,000 after buying an additional 342 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Albany International by 11.5% in the 1st quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock worth $229,000 after acquiring an additional 342 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Performance

AIN stock traded down $1.26 on Friday, reaching $69.74. 88,038 shares of the company were exchanged, compared to its average volume of 228,611. Albany International Corporation has a 12 month low of $57.71 and a 12 month high of $95.47. The stock's fifty day moving average price is $67.86 and its 200 day moving average price is $72.25. The firm has a market capitalization of $2.11 billion, a PE ratio of 28.11, a PEG ratio of 1.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.70 and a quick ratio of 2.92.

Albany International (NYSE:AIN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 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 firm had revenue of $288.77 million for the quarter, compared to analyst estimates of $300.74 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company's revenue was down 7.8% on a year-over-year basis. On average, research analysts anticipate that Albany International Corporation will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on AIN. JPMorgan Chase & Co. raised 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 lowered their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research note on Monday, June 2nd. Truist Financial lowered their target price on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. 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, 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

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.