144,842 Shares in Albany International Corp. (NYSE:AIN) Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new position in shares of Albany International Corp. (NYSE:AIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 144,842 shares of the textile maker's stock, valued at approximately $11,583,000. Invenomic Capital Management LP owned 0.46% of Albany International at the end of the most recent reporting period.

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

Albany International Stock Performance

NYSE:AIN traded up $0.72 during midday trading on Friday, reaching $69.15. 184,342 shares of the company traded hands, compared to its average volume of 206,163. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 21.61 and a beta of 1.37. The company has a fifty day moving average price of $67.22 and a 200 day moving average price of $75.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International Corp. has a twelve month low of $57.71 and a twelve month high of $95.47.

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, beating analysts' consensus estimates 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 analysts' expectations of $300.74 million. During the same period last year, the business posted $0.90 earnings per share. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. On average, analysts expect that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. Albany International's payout ratio is 43.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird decreased their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Truist Financial decreased their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Bank of America decreased their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Albany International has a consensus rating of "Moderate Buy" and a consensus price target of $81.00.

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.