Invenomic Capital Management LP Makes New Investment in Albany International Corp. (NYSE:AIN)

Invenomic Capital Management LP bought a new stake in Albany International Corp. (NYSE:AIN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 144,842 shares of the textile maker's stock, valued at approximately $11,583,000. Invenomic Capital Management LP owned about 0.46% of Albany International at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AIN. Gotham Asset Management LLC raised its position in shares of Albany International by 60.5% during the 4th quarter. Gotham Asset Management LLC now owns 4,292 shares of the textile maker's stock worth $343,000 after acquiring an additional 1,618 shares in the last quarter. Deutsche Bank AG increased its stake in Albany International by 349.3% in the fourth quarter. Deutsche Bank AG now owns 80,367 shares of the textile maker's stock valued at $6,427,000 after purchasing an additional 62,480 shares during the last quarter. Cetera Investment Advisers raised its holdings in Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock worth $298,000 after purchasing an additional 133 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Albany International by 15.5% during the 4th quarter. Captrust Financial Advisors now owns 7,125 shares of the textile maker's stock worth $570,000 after buying an additional 958 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Albany International by 3,050.6% during the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker's stock worth $109,075,000 after buying an additional 1,320,654 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AIN. JPMorgan Chase & Co. cut their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Truist Financial reduced 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. Bank of America decreased their target price on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research report on Tuesday, March 25th. Robert W. Baird cut their price target 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. Finally, StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

Albany International Stock Performance

Shares of AIN traded down $0.90 during mid-day trading on Wednesday, hitting $67.39. 141,445 shares of the company's stock were exchanged, compared to its average volume of 206,024. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The business's 50 day moving average is $67.31 and its two-hundred day moving average is $75.54. The firm has a market capitalization of $2.04 billion, a P/E ratio of 21.06 and a beta of 1.37.

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 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 company had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same period last year, the business posted $0.90 EPS. The company's revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.60%. Albany International's payout ratio is currently 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.