Deutsche Bank AG Has $6.43 Million Stock Position in Albany International Corp. (NYSE:AIN)

Deutsche Bank AG lifted its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 349.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,367 shares of the textile maker's stock after purchasing an additional 62,480 shares during the period. Deutsche Bank AG owned 0.26% of Albany International worth $6,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIN. Bank of America Corp DE raised its stake in shares of Albany International by 3,050.6% during the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock worth $109,075,000 after purchasing an additional 1,320,654 shares in the last quarter. American Century Companies Inc. raised its stake in Albany International by 3,380.5% in the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after acquiring an additional 824,975 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Albany International in the 4th quarter valued at $62,181,000. Norges Bank bought a new stake in Albany International in the 4th quarter valued at $39,044,000. Finally, Raymond James Financial Inc. bought a new stake in Albany International in the 4th quarter valued at $19,349,000. Institutional investors own 97.37% of the company's stock.

Albany International Stock Performance

AIN stock traded down $0.34 during trading hours on Friday, hitting $65.43. 172,527 shares of the stock were exchanged, compared to its average volume of 209,808. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.98 billion, a P/E ratio of 20.45 and a beta of 1.37. The company has a 50-day simple moving average of $66.45 and a two-hundred day simple moving average of $75.38. Albany International Corp. has a 12 month low of $57.71 and a 12 month high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. The firm had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 EPS. On average, analysts forecast that Albany International Corp. 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 will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, June 6th. Albany International's payout ratio is 43.55%.

Analysts Set New Price Targets

AIN has been the topic of a number of research analyst reports. Bank of America dropped their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 25th. Truist Financial dropped their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Robert W. Baird dropped their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.00.

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.