Millennium Management LLC Sells 111,503 Shares of Albany International Corp. (NYSE:AIN)

Millennium Management LLC lessened its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 87.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,290 shares of the textile maker's stock after selling 111,503 shares during the quarter. Millennium Management LLC owned approximately 0.05% of Albany International worth $1,303,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Albany International by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,762 shares of the textile maker's stock worth $1,420,000 after buying an additional 670 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of Albany International in the fourth quarter valued at approximately $11,583,000. Gotham Asset Management LLC grew its position in shares of Albany International by 60.5% in the fourth quarter. Gotham Asset Management LLC now owns 4,292 shares of the textile maker's stock valued at $343,000 after purchasing an additional 1,618 shares during the last quarter. Deutsche Bank AG grew its position in shares of Albany International by 349.3% in the fourth quarter. Deutsche Bank AG now owns 80,367 shares of the textile maker's stock valued at $6,427,000 after purchasing an additional 62,480 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Albany International by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Price Performance

NYSE:AIN traded up $0.53 during trading hours on Friday, reaching $67.05. 133,659 shares of the company were exchanged, compared to its average volume of 213,744. The company has a market capitalization of $2.02 billion, a P/E ratio of 20.95 and a beta of 1.31. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The business has a 50 day moving average of $65.33 and a 200 day moving average of $74.20.

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

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, June 6th. Albany International's payout ratio is presently 43.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial decreased their target price 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. Robert W. Baird decreased their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Bank of America decreased their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday, June 2nd. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $79.00.

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.