Fort Washington Investment Advisors Inc. OH Decreases Stake in Albany International Corp. (NYSE:AIN)

Fort Washington Investment Advisors Inc. OH reduced its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,619 shares of the textile maker's stock after selling 77,614 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.57% of Albany International worth $12,056,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AIN. Public Employees Retirement System of Ohio acquired a new stake in Albany International in the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC boosted its stake in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after acquiring an additional 662 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Albany International in the fourth quarter worth approximately $70,000. Finally, 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 worth $71,000 after acquiring an additional 466 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AIN shares. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Truist Financial reduced their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird cut their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, Bank of America cut their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Albany International Trading Up 2.0%

Albany International stock traded up $1.36 during midday trading on Monday, reaching $68.55. 337,311 shares of the stock traded hands, compared to its average volume of 217,450. The company has a 50-day simple moving average of $65.97 and a two-hundred day simple moving average of $73.55. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The firm has a market cap of $2.07 billion, a PE ratio of 21.42 and a beta of 1.31. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $288.77 million during the quarter, compared to analysts' expectations of $300.74 million. During the same period last year, the business posted $0.90 EPS. Albany International's revenue for the quarter was down 7.8% on a year-over-year basis. Research analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, June 6th. Albany International's dividend payout ratio (DPR) is 43.55%.

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.