Deutsche Bank AG Acquires 62,480 Shares of Albany International Corp. (NYSE:AIN)

Deutsche Bank AG grew its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 349.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,367 shares of the textile maker's stock after buying an additional 62,480 shares during the period. Deutsche Bank AG owned approximately 0.26% of Albany International worth $6,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIN. Smartleaf Asset Management LLC raised its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Albany International by 735.6% during the fourth 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 period. Vestcor Inc acquired a new stake in shares of Albany International in the fourth quarter valued at approximately $70,000. Covestor Ltd boosted its stake in shares of Albany International by 110.4% in the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after buying an additional 466 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Albany International during the fourth quarter worth approximately $88,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Price Performance

Shares of AIN stock traded down $2.05 on Wednesday, reaching $65.85. The company had a trading volume of 249,672 shares, compared to its average volume of 208,634. The business's 50-day moving average is $66.95 and its 200 day moving average is $75.53. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.99 billion, a PE ratio of 20.58 and a beta of 1.37.

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, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities research analysts forecast that Albany International Corp. will post 3.23 EPS 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. Investors of record on Friday, June 6th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.64%. Albany International's dividend payout ratio is currently 43.55%.

Analysts Set New Price Targets

AIN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America reduced their price objective on shares of 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 target price 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. Finally, Robert W. Baird reduced their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Albany International Company 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.