Albany International Corp. (NYSE:AIN) Stock Holdings Trimmed by Fruth Investment Management

Fruth Investment Management decreased its holdings in Albany International Corp. (NYSE:AIN) by 1.6% in the 4th quarter, HoldingsChannel reports. The firm owned 20,750 shares of the textile maker’s stock after selling 347 shares during the quarter. Fruth Investment Management’s holdings in Albany International were worth $1,659,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Quarry LP increased its position in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC boosted its stake in Albany International by 33.4% during the third quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after buying an additional 225 shares in the last quarter. KBC Group NV grew its holdings in Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division raised its position 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 worth $184,000 after acquiring an additional 320 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new stake in Albany International in the 3rd quarter valued at about $206,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AIN shares. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Truist Financial increased their price objective 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. Bank of America reduced their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. cut their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.75.

Albany International Stock Performance

Shares of Albany International stock opened at $83.12 on Thursday. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $98.73. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.60 billion, a PE ratio of 25.98 and a beta of 1.34. The business has a fifty day simple moving average of $80.97 and a 200-day simple moving average of $82.59.

Albany International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were issued a $0.27 dividend. This is an increase from Albany International’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Albany International’s dividend payout ratio is currently 33.75%.

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.