Susquehanna International Group LLP Purchases 18,987 Shares of Albany International Corp. (NYSE:AIN)

Susquehanna International Group LLP lifted its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 377.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,013 shares of the textile maker's stock after purchasing an additional 18,987 shares during the period. Susquehanna International Group LLP owned 0.08% of Albany International worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AIN. Barclays PLC increased its position 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 period. Principal Financial Group Inc. grew its position in Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock valued at $52,071,000 after buying an additional 36,274 shares during the period. 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 acquiring an additional 9,931 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Albany International during the 4th quarter worth about $226,000. Finally, Procyon Advisors LLC purchased a new position in shares of Albany International during the 4th quarter valued at $365,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Price Performance

Shares of AIN stock traded up $2.59 during trading hours on Monday, hitting $68.15. The stock had a trading volume of 295,628 shares, compared to its average volume of 205,269. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 21.30 and a beta of 1.37. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47. The stock's 50-day moving average price is $67.62 and its two-hundred day moving average price is $75.67.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, topping 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 firm had revenue of $288.77 million during the quarter, compared to analysts' expectations of $300.74 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company's quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. Albany International's payout ratio is 43.55%.

Wall Street Analysts Forecast Growth

AIN has been the subject of several analyst reports. StockNews.com cut shares of Albany International from a "buy" rating to a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price 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. Bank of America dropped their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a report on Tuesday, March 25th. Truist Financial lowered 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. Finally, Robert W. Baird lowered their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.40.

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.