Man Group plc Has $367,000 Stake in Albany International Corp. (NYSE:AIN)

Man Group plc decreased its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 89.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,593 shares of the textile maker's stock after selling 38,715 shares during the quarter. Man Group plc's holdings in Albany International were worth $367,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AIN. Vanguard Group Inc. raised its position in shares of Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock worth $279,403,000 after purchasing an additional 12,687 shares during the last quarter. Earnest Partners LLC raised its position in shares of Albany International by 3.9% during the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock worth $211,209,000 after purchasing an additional 99,149 shares during the last quarter. Bank of America Corp DE raised its position 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 during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Albany International by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker's stock worth $88,217,000 after purchasing an additional 9,226 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings 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 last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Price Performance

NYSE:AIN traded down $0.68 during trading hours on Friday, reaching $66.08. 308,122 shares of the company's stock were exchanged, compared to its average volume of 212,086. The company has a market capitalization of $2.00 billion, a P/E ratio of 20.65 and a beta of 1.37. Albany International Corp. has a 12 month low of $57.71 and a 12 month 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 business's 50-day simple moving average is $65.79 and its two-hundred day simple moving average is $74.80.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. The firm had revenue of $288.77 million during the quarter, compared to analysts' expectations 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 for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts expect 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's dividend payout ratio is 43.55%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIN shares. JPMorgan Chase & Co. boosted their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Truist Financial decreased 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. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Bank of America dropped their price target 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. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.