Albany International Corp. (NYSE:AIN) Shares Purchased by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its holdings in shares of Albany International Corp. (NYSE:AIN) by 18.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,164 shares of the textile maker’s stock after purchasing an additional 4,307 shares during the quarter. Advantage Alpha Capital Partners LP owned about 0.09% of Albany International worth $2,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Intech Investment Management LLC boosted its stake in Albany International by 72.4% in the 3rd quarter. Intech Investment Management LLC now owns 9,114 shares of the textile maker’s stock worth $810,000 after buying an additional 3,827 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Albany International by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock valued at $35,360,000 after purchasing an additional 15,120 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Albany International during the third quarter worth approximately $981,000. Quantbot Technologies LP raised its stake in Albany International by 25.8% during the third quarter. Quantbot Technologies LP now owns 6,491 shares of the textile maker’s stock worth $577,000 after purchasing an additional 1,333 shares during the period. Finally, FORA Capital LLC acquired a new position in shares of Albany International in the 3rd quarter valued at $241,000. 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 reports. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Robert W. Baird dropped 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 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. Finally, Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Albany International Price Performance

Shares of AIN stock opened at $70.70 on Monday. The firm has a fifty day simple moving average of $78.32 and a 200-day simple moving average of $79.57. The company has a market capitalization of $2.18 billion, a PE ratio of 22.09 and a beta of 1.37. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49. 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 (NYSE:AIN) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Equities research analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

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