Albany International Corp. (NYSE:AIN) Stock Position Increased by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP increased its position in Albany International Corp. (NYSE:AIN) by 18.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,164 shares of the textile maker’s stock after acquiring an additional 4,307 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Albany International were worth $2,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP boosted 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after purchasing an additional 503 shares during the period. Vestcor Inc purchased a new position in Albany International during the 4th quarter worth approximately $70,000. KBC Group NV grew its holdings in shares of Albany International by 41.3% during the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock valued at $120,000 after buying an additional 437 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in Albany International by 16.1% during the 4th 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 during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Albany International Price Performance

NYSE AIN opened at $70.70 on Monday. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $96.49. The company has a fifty day simple moving average of $78.32 and a 200 day simple moving average of $79.57. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market cap 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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $299.52 million. On average, sell-side analysts predict that Albany International Corp. will post 3.23 EPS for the current 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 annualized dividend and a yield of 1.53%. Albany International’s dividend payout ratio (DPR) is currently 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.