Albany International Corp. (NYSE:AIN) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC lifted its stake in shares of Albany International Corp. (NYSE:AIN - Free Report) by 88.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,991 shares of the textile maker's stock after purchasing an additional 49,873 shares during the period. Voloridge Investment Management LLC owned 0.34% of Albany International worth $8,476,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its holdings in shares of Albany International by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock worth $298,000 after acquiring an additional 133 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Albany International by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker's stock valued at $261,000 after purchasing an additional 207 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Albany International by 0.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker's stock worth $3,925,000 after purchasing an additional 265 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Albany International by 7.2% during the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock worth $400,000 after purchasing an additional 334 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Albany International by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker's stock valued at $1,372,000 after buying an additional 342 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 research analysts have recently commented on the company. Truist Financial dropped their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. boosted their price objective 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. Wall Street Zen raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research report on Tuesday, March 25th. Finally, Robert W. Baird dropped their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $81.00.

Albany International Stock Performance

NYSE AIN traded up $0.92 during trading on Thursday, reaching $66.77. The company's stock had a trading volume of 276,809 shares, compared to its average volume of 211,027. The business's fifty day moving average price is $66.05 and its 200-day moving average price is $75.07. Albany International Corp. has a twelve month low of $57.71 and a twelve month high of $95.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 20.87 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 (EPS) for the quarter, beating 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 analysts' expectations of $300.74 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. As a group, analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 6th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. Albany International's dividend payout ratio (DPR) 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.