Two Sigma Advisers LP Sells 20,400 Shares of Albany International Corp. (NYSE:AIN)

Two Sigma Advisers LP reduced its position in Albany International Corp. (NYSE:AIN - Free Report) by 20.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 78,600 shares of the textile maker's stock after selling 20,400 shares during the period. Two Sigma Advisers LP owned 0.25% of Albany International worth $6,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC raised its stake in Albany International by 305.5% during the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock valued at $4,728,000 after acquiring an additional 40,101 shares during the last quarter. Inspire Investing LLC raised its stake in Albany International by 7.2% during the 4th quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock valued at $400,000 after acquiring an additional 334 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Albany International by 18.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,014 shares of the textile maker's stock worth $561,000 after buying an additional 1,107 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Albany International by 11.2% during the 4th quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker's stock worth $321,000 after buying an additional 365 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Albany International by 41.3% during the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker's stock worth $120,000 after buying an additional 437 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Albany International Trading Down 2.5%

NYSE AIN traded down $1.67 on Wednesday, hitting $65.83. 174,851 shares of the stock were exchanged, compared to its average volume of 210,238. The company's 50-day moving average price is $66.15 and its two-hundred day moving average price is $75.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a 52-week low of $57.71 and a 52-week high of $95.47. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 20.57 and a beta of 1.37.

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 for the quarter, beating 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%. Albany International's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Research analysts predict 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. Shareholders of record on Friday, June 6th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, June 6th. Albany International's dividend payout ratio is 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.