Squarepoint Ops LLC Purchases Shares of 53,826 Albany International Corp. (NYSE:AIN)

Squarepoint Ops LLC bought a new position in Albany International Corp. (NYSE:AIN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 53,826 shares of the textile maker's stock, valued at approximately $4,304,000. Squarepoint Ops LLC owned 0.17% of Albany International at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Bank of America Corp DE raised its position in Albany International by 3,050.6% in the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock valued at $109,075,000 after purchasing an additional 1,320,654 shares during the period. American Century Companies Inc. raised its position in Albany International by 3,380.5% in the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after purchasing an additional 824,975 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Albany International in the fourth quarter valued at about $62,181,000. Norges Bank purchased a new position in Albany International in the fourth quarter valued at about $39,044,000. Finally, Raymond James Financial Inc. purchased a new position in Albany International in the fourth quarter valued at about $19,349,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIN has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird lowered their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Truist Financial dropped 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. Finally, Bank of America dropped their target price on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Albany International has an average rating of "Moderate Buy" and an average target price of $81.00.

Albany International Stock Performance

Shares of NYSE AIN traded down $0.42 during midday trading on Friday, hitting $66.35. 38,516 shares of the company's stock were exchanged, compared to its average volume of 210,803. 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 stock's 50 day moving average price is $65.93 and its 200-day moving average price is $74.95. The firm has a market cap of $2.00 billion, a P/E ratio of 20.73 and a beta of 1.37. 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 issued its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million during 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 business's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently announced 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 is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.63%. Albany International's payout ratio is 43.55%.

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.