Victory Capital Management Inc. Buys 19,621 Shares of Albany International Corporation (NYSE:AIN)

Victory Capital Management Inc. grew its holdings in Albany International Corporation (NYSE:AIN - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 744,158 shares of the textile maker's stock after acquiring an additional 19,621 shares during the period. Victory Capital Management Inc. owned about 2.41% of Albany International worth $51,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in AIN. Public Employees Retirement System of Ohio bought a new position in Albany International during the fourth quarter valued at approximately $40,000. Sterling Capital Management LLC boosted its stake in Albany International by 735.6% during the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after buying an additional 662 shares during the last quarter. Covestor Ltd boosted its stake in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after buying an additional 466 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Albany International during the fourth quarter valued at approximately $88,000. Finally, Blue Trust Inc. boosted its stake in Albany International by 48.7% during the first quarter. Blue Trust Inc. now owns 3,065 shares of the textile maker's stock valued at $212,000 after buying an additional 1,004 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America dropped their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Truist Financial dropped their target price on Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $79.00.

Albany International Trading Up 0.0%

Shares of AIN stock traded up $0.02 on Friday, reaching $69.80. 207,775 shares of the company's stock were exchanged, compared to its average volume of 230,943. Albany International Corporation has a 52 week low of $57.71 and a 52 week high of $95.47. The company has a current ratio of 3.70, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.11 billion, a PE ratio of 28.15, a P/E/G ratio of 1.62 and a beta of 1.31. The company's fifty day simple moving average is $68.43 and its 200 day simple moving average is $71.72.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. During the same period last year, the company earned $0.90 EPS. Albany International's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, analysts forecast that Albany International Corporation will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio (DPR) is presently 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.