LPL Financial LLC Purchases 5,837 Shares of Albany International Corp. (NYSE:AIN)

LPL Financial LLC lifted its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 65.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,734 shares of the textile maker's stock after acquiring an additional 5,837 shares during the period. LPL Financial LLC's holdings in Albany International were worth $1,178,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AIN. American Century Companies Inc. grew its holdings in shares of 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 valued at $67,925,000 after purchasing an additional 824,975 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Albany International during the fourth quarter worth $19,349,000. Sei Investments Co. grew its stake in shares of Albany International by 7.0% during the fourth quarter. Sei Investments Co. now owns 729,377 shares of the textile maker's stock worth $58,328,000 after buying an additional 47,936 shares during the last quarter. Barclays PLC grew its stake in shares of Albany International by 305.5% during the third quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock worth $4,728,000 after buying an additional 40,101 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock worth $52,071,000 after buying an additional 36,274 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Up 1.7 %

Albany International stock traded up $1.05 during midday trading on Thursday, reaching $63.97. The stock had a trading volume of 31,283 shares, compared to its average volume of 203,347. Albany International Corp. has a 12 month low of $57.71 and a 12 month high of $95.47. The company has a fifty day moving average price of $70.91 and a two-hundred day moving average price of $76.32. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.98 billion, a P/E ratio of 19.98 and a beta of 1.29.

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

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AIN. Truist Financial decreased their target price 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. Bank of America decreased their target price on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 25th. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Robert W. Baird reduced their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price objective 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. 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. According to data from MarketBeat, Albany International currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

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.