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

Two Sigma Advisers LP decreased its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 20.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,600 shares of the textile maker's stock after selling 20,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.25% of Albany International worth $6,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after acquiring an additional 503 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares in the last quarter. Vestcor Inc acquired a new position in shares of Albany International in the 4th quarter valued at approximately $70,000. Covestor Ltd raised its position in shares of Albany International by 110.4% in the 4th quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after purchasing an additional 466 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Albany International in the 4th quarter valued at approximately $88,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Stock Down 0.6%

AIN traded down $0.42 during midday trading on Friday, hitting $66.35. 38,516 shares of the company's stock traded hands, compared to its average volume of 233,745. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47. The company has a market cap of $2.00 billion, a PE ratio of 20.73 and a beta of 1.37. 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 fifty day simple moving average is $65.93 and its 200-day simple moving average is $74.95.

Albany International (NYSE:AIN - Get Free Report) last announced its 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 analyst estimates of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Albany International's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 6th. Albany International's dividend payout ratio is 43.55%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AIN. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird dropped 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. JPMorgan Chase & Co. increased their target price on 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 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 investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average 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.