Northern Trust Corp Grows Holdings in Albany International Corp. (NYSE:AIN)

Northern Trust Corp increased its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,422 shares of the textile maker's stock after buying an additional 37,762 shares during the period. Northern Trust Corp owned about 1.11% of Albany International worth $27,703,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Albany International by 305.5% in the third quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock worth $4,728,000 after acquiring an additional 40,101 shares during the last quarter. Principal Financial Group Inc. increased its position in Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock worth $52,071,000 after purchasing an additional 36,274 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker's stock valued at $7,163,000 after purchasing an additional 9,931 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Albany International in the 4th quarter valued at about $226,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Albany International during the 4th quarter worth about $365,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Trading Up 0.3%

Shares of AIN traded up $0.24 during mid-day trading on Friday, reaching $68.67. The company had a trading volume of 45,716 shares, compared to its average volume of 233,861. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The firm has a fifty day simple moving average of $67.22 and a 200-day simple moving average of $75.51. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 21.46 and a beta of 1.37. 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 (NYSE:AIN - Get Free Report) last posted its quarterly 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. The firm had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.57%. Albany International's dividend payout ratio is currently 43.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Bank of America cut their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. Truist Financial decreased 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. Finally, StockNews.com upgraded Albany International from a "hold" rating to a "buy" rating in a research note on Friday. One research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.