Natixis Advisors LLC Sells 67,898 Shares of Albany International Corporation (NYSE:AIN)

Key Points

• Natixis Advisors LLC has reduced its stake in Albany International Corporation by 29.3%, owning approximately 0.53% of the company with a value of $11.3 million.
• Bank of America increased its stake in Albany International by 3,050.6% during the fourth quarter, now holding over 1.3 million shares valued at $109 million.
• Albany International reported earnings per share of $0.57 for the last quarter, missing analyst expectations, and has a consensus price target of $71.40 with a recent dividend yield of 1.8%.

Natixis Advisors LLC trimmed its position in shares of Albany International Corporation (NYSE:AIN - Free Report) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,827 shares of the textile maker's stock after selling 67,898 shares during the period. Natixis Advisors LLC owned 0.53% of Albany International worth $11,311,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AIN. Cetera Investment Advisers lifted its stake in shares of Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after acquiring an additional 133 shares during the period. Summit Investment Advisors Inc. raised its stake in Albany International by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker's stock valued at $261,000 after buying an additional 207 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Albany International by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker's stock valued at $3,925,000 after purchasing an additional 265 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Albany International by 11.5% in the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker's stock valued at $229,000 after purchasing an additional 342 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in shares of Albany International by 3.0% in the first quarter. DAVENPORT & Co LLC now owns 12,464 shares of the textile maker's stock valued at $860,000 after purchasing an additional 360 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIN has been the subject of several recent analyst reports. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Truist Financial restated a "hold" rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a research report on Friday. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Robert W. Baird cut shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target on the stock. in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Albany International has an average rating of "Hold" and an average target price of $71.40.

Albany International Stock Up 2.8%

Shares of NYSE:AIN traded up $1.61 during trading on Tuesday, hitting $60.06. 407,966 shares of the company were exchanged, compared to its average volume of 320,712. The firm's 50 day moving average price is $68.29 and its 200-day moving average price is $70.58. Albany International Corporation has a 12-month low of $50.60 and a 12-month high of $94.20. The stock has a market capitalization of $1.81 billion, a P/E ratio of 30.03, a PEG ratio of 1.37 and a beta of 1.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78.

Albany International (NYSE:AIN - Get Free Report) last released its earnings results on Wednesday, July 30th. The textile maker reported $0.57 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.16). Albany International had a return on equity of 8.87% and a net margin of 5.25%. The firm had revenue of $311.40 million during the quarter, compared to analysts' expectations of $306.06 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm's revenue was down 6.2% on a year-over-year basis. On average, research analysts predict that Albany International Corporation will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 6th. Albany International's payout ratio is currently 54.00%.

Albany International 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.