Select Equity Group L.P. Has $1.14 Million Stake in Albany International Corp. (NYSE:AIN)

Select Equity Group L.P. reduced its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 46.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,279 shares of the textile maker's stock after selling 12,351 shares during the period. Select Equity Group L.P.'s holdings in Albany International were worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AIN. Barclays PLC boosted its stake in shares of Albany International by 305.5% during the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock worth $4,728,000 after buying an additional 40,101 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Albany International during the fourth quarter valued at approximately $226,000. Procyon Advisors LLC bought a new position in Albany International in the fourth quarter valued at approximately $365,000. Integrated Investment Consultants LLC increased its position in shares of Albany International by 3.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock worth $386,000 after purchasing an additional 155 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in shares of Albany International by 16.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 252,233 shares of the textile maker's stock worth $20,171,000 after purchasing an additional 34,890 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Performance

Shares of NYSE AIN traded down $0.40 during mid-day trading on Friday, reaching $65.38. 48,439 shares of the company were exchanged, compared to its average volume of 208,909. The stock has a market capitalization of $1.97 billion, a P/E ratio of 20.43 and a beta of 1.37. 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's 50-day simple moving average is $66.62 and its 200-day simple moving average is $75.43. Albany International Corp. has a twelve month low of $57.71 and a twelve month high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly 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. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. During the same period in the prior year, the firm earned $0.90 EPS. The business's revenue was down 7.8% on a year-over-year basis. As a group, research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company 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 dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.65%. Albany International's payout ratio is currently 43.55%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AIN shares. Robert W. Baird decreased 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. Truist Financial lowered their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Bank of America reduced their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. Finally, Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned 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, Albany International presently 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.