Tudor Investment Corp ET AL Cuts Stock Position in Albany International Corp. (NYSE:AIN)

Tudor Investment Corp ET AL cut its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 65.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,135 shares of the textile maker's stock after selling 53,883 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.09% of Albany International worth $2,250,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Earnest Partners LLC increased its holdings in Albany International by 3.9% during the fourth quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker's stock worth $211,209,000 after buying an additional 99,149 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Albany International during the 4th quarter worth approximately $2,562,000. Voya Investment Management LLC raised its holdings in shares of Albany International by 552.8% in the 4th quarter. Voya Investment Management LLC now owns 260,394 shares of the textile maker's stock worth $20,824,000 after purchasing an additional 220,504 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Albany International by 10.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,695 shares of the textile maker's stock valued at $1,655,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Susquehanna International Group LLP grew its holdings in Albany International by 377.8% during the fourth quarter. Susquehanna International Group LLP now owns 24,013 shares of the textile maker's stock valued at $1,920,000 after purchasing an additional 18,987 shares during the period. 97.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on AIN shares. Truist Financial lowered their target price on 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. cut their target price on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Robert W. Baird reduced their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. 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 research note on Tuesday, March 25th. Finally, StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

Albany International Trading Up 1.9 %

Shares of AIN opened at $63.41 on Friday. The business's 50-day moving average price is $68.67 and its 200-day moving average price is $75.96. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a twelve month low of $57.71 and a twelve month high of $95.47. The stock has a market cap of $1.96 billion, a PE ratio of 19.82 and a beta of 1.29.

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, topping the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, March 21st. Albany International's payout ratio is 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.

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