UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Albany International Corp. (NYSE:AIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Albany International Corp. (NYSE:AIN - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,640 shares of the textile maker's stock after purchasing an additional 9,492 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Albany International worth $4,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP boosted its stake in shares of Albany International by 18.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker's stock valued at $2,252,000 after purchasing an additional 4,307 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Albany International by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock valued at $279,403,000 after purchasing an additional 12,687 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Albany International in the 4th quarter valued at approximately $521,000. Raymond James Financial Inc. acquired a new stake in shares of Albany International in the 4th quarter valued at approximately $19,349,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Albany International by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock valued at $24,381,000 after purchasing an additional 9,091 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on AIN. 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. Robert W. Baird cut their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America cut their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research report on Monday. Finally, Truist Financial dropped their price target on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Albany International Stock Performance

Shares of AIN stock traded up $0.03 during trading hours on Thursday, hitting $66.51. 137,348 shares of the company were exchanged, compared to its average volume of 212,598. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $65.45 and a 200 day simple moving average of $74.54. Albany International Corp. has a 52-week low of $57.71 and a 52-week high of $95.47. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.78 and a beta of 1.37.

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

Albany International Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.62%. Albany International's payout ratio is presently 43.55%.

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.