Intech Investment Management LLC Grows Stock Holdings in Albany International Corp. (NYSE:AIN)

Intech Investment Management LLC raised its position in Albany International Corp. (NYSE:AIN) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,443 shares of the textile maker’s stock after acquiring an additional 4,329 shares during the quarter. Intech Investment Management LLC’s holdings in Albany International were worth $1,075,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quarry LP increased its position in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 503 shares during the period. Vestcor Inc purchased a new position in shares of Albany International in the fourth quarter valued at about $70,000. KBC Group NV increased its position in shares of Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 237 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in shares of 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 period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

AIN has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird reduced their price target on shares of 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 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Albany International Trading Down 3.8 %

NYSE:AIN opened at $70.70 on Friday. Albany International Corp. has a one year low of $67.39 and a one year high of $96.49. 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 company’s 50-day simple moving average is $78.32 and its 200 day simple moving average is $79.64. The firm has a market capitalization of $2.18 billion, a P/E ratio of 22.09 and a beta of 1.37.

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

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. Albany International’s dividend payout ratio is presently 38.71%.

About Albany International

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.