Albany International Corp. (NYSE:AIN) Shares Purchased by EntryPoint Capital LLC

EntryPoint Capital LLC raised its stake in Albany International Corp. (NYSE:AIN) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,461 shares of the textile maker’s stock after buying an additional 1,234 shares during the quarter. EntryPoint Capital LLC’s holdings in Albany International were worth $517,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the period. Vestcor Inc acquired a new stake in shares of Albany International in the fourth quarter valued at $70,000. KBC Group NV lifted its stake in Albany International by 41.3% during the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock worth $120,000 after acquiring an additional 437 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its stake in Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIN. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird lowered their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International has an average rating of “Moderate Buy” and an average target price of $83.00.

Albany International Trading Up 2.7 %

AIN opened at $72.76 on Tuesday. The business’s 50-day simple moving average is $78.18 and its 200-day simple moving average is $79.47. The company has a market cap of $2.25 billion, a P/E ratio of 22.74 and a beta of 1.37. 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 quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. As a group, equities research analysts expect 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. Investors of record on Friday, March 21st will be given a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.48%. Albany International’s dividend payout ratio (DPR) is presently 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.