By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS bought a new stake in Albany International Corp. (NYSE:AIN – Free Report) in the fourth quarter, Holdings Channel reports. The institutional investor bought 6,500 shares of the textile maker’s stock, valued at approximately $521,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIN. Integrated Investment Consultants LLC increased its holdings in shares of Albany International by 3.3% in the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after purchasing an additional 155 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Albany International by 16.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 320 shares during the last quarter. Inspire Investing LLC increased its position in Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after purchasing an additional 334 shares during the period. HighTower Advisors LLC increased its position in Albany International by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock worth $1,372,000 after purchasing an additional 342 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Albany International by 11.2% during the 4th quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker’s stock worth $321,000 after buying an additional 365 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AIN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Truist Financial lifted their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird lowered 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 reduced 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 report on Tuesday, March 25th. Finally, StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.
Check Out Our Latest Report on Albany International
Albany International Price Performance
Shares of NYSE AIN opened at $65.28 on Friday. The company has a fifty day moving average price of $76.46 and a 200 day moving average price of $78.75. The firm has a market cap of $2.02 billion, a PE ratio of 20.40 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 Corp. has a 1-year low of $64.63 and a 1-year high of $95.47.
Albany International (NYSE:AIN – Get Free Report) last released its 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 firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.
Albany International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s payout ratio is 38.71%.
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.
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