Albany International Corp. (NYSE:AIN) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 948,262 shares of the textile maker's stock after selling 24,758 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 3.03% of Albany International worth $75,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its stake in Albany International by 3,380.5% during the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock worth $67,925,000 after acquiring an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Albany International during the fourth quarter worth about $62,181,000. Norges Bank acquired a new stake in shares of Albany International during the fourth quarter worth about $39,044,000. Raymond James Financial Inc. purchased a new stake in shares of Albany International in the 4th quarter valued at about $19,349,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Albany International in the 4th quarter valued at about $4,300,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Analysts Set New Price Targets

AIN has been the subject of a number of research reports. Bank of America reduced their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Truist Financial dropped their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Finally, Robert W. Baird reduced their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. One 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

Albany International Stock Performance

NYSE AIN traded up $0.34 during trading hours on Friday, hitting $65.81. 137,013 shares of the stock were exchanged, compared to its average volume of 204,033. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 20.57 and a beta of 1.29. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The stock has a 50-day moving average of $70.27 and a 200 day moving average of $76.21.

Albany International (NYSE:AIN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). The business had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. As a group, equities research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were issued a $0.27 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.64%. Albany International's dividend payout ratio is presently 38.71%.

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.