Man Group plc Reduces Stock Holdings in Albany International Corp. (NYSE:AIN)

Man Group plc reduced its position in Albany International Corp. (NYSE:AIN - Free Report) by 89.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,593 shares of the textile maker's stock after selling 38,715 shares during the period. Man Group plc's holdings in Albany International were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Albany International by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,762 shares of the textile maker's stock worth $1,420,000 after purchasing an additional 670 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Albany International in the 4th quarter worth approximately $11,583,000. Gotham Asset Management LLC boosted its stake in Albany International by 60.5% in the 4th quarter. Gotham Asset Management LLC now owns 4,292 shares of the textile maker's stock worth $343,000 after purchasing an additional 1,618 shares in the last quarter. Deutsche Bank AG boosted its stake in Albany International by 349.3% in the 4th quarter. Deutsche Bank AG now owns 80,367 shares of the textile maker's stock worth $6,427,000 after purchasing an additional 62,480 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Albany International by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock worth $298,000 after purchasing an additional 133 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on AIN. Robert W. Baird lowered their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Bank of America decreased their price objective on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. 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 note on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Albany International currently has a consensus rating of "Moderate Buy" and an average target price of $81.00.

Albany International Stock Performance

Shares of NYSE:AIN traded down $0.33 during trading on Friday, hitting $66.43. 78,988 shares of the stock traded hands, compared to its average volume of 234,178. 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 company has a market cap of $2.01 billion, a price-to-earnings ratio of 20.76 and a beta of 1.37. The company has a fifty day moving average price of $65.93 and a two-hundred day moving average price of $74.95. Albany International Corp. has a 52-week low of $57.71 and a 52-week high of $95.47.

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

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's payout ratio is presently 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.