Fifth Third Bancorp Purchases 4,994 Shares of Albany International Corp. (NYSE:AIN)

Fifth Third Bancorp grew its position in shares of Albany International Corp. (NYSE:AINFree Report) by 31.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,808 shares of the textile maker’s stock after acquiring an additional 4,994 shares during the quarter. Fifth Third Bancorp owned about 0.07% of Albany International worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIN. Morgan Stanley increased its holdings in shares of Albany International by 74.2% during the third quarter. Morgan Stanley now owns 890,785 shares of the textile maker’s stock valued at $76,857,000 after acquiring an additional 379,367 shares in the last quarter. Norges Bank bought a new stake in shares of Albany International during the fourth quarter valued at approximately $32,911,000. Citadel Advisors LLC increased its holdings in shares of Albany International by 189.5% during the second quarter. Citadel Advisors LLC now owns 206,945 shares of the textile maker’s stock valued at $19,304,000 after acquiring an additional 135,472 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Albany International during the fourth quarter worth $12,803,000. Finally, Envestnet Asset Management Inc. grew its holdings in Albany International by 81.2% during the third quarter. Envestnet Asset Management Inc. now owns 284,006 shares of the textile maker’s stock worth $24,504,000 after buying an additional 127,295 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Stock Up 0.5 %

Shares of NYSE:AIN opened at $89.19 on Thursday. The company has a market capitalization of $2.78 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The business has a fifty day moving average price of $92.10 and a two-hundred day moving average price of $89.43. Albany International Corp. has a 1 year low of $78.20 and a 1 year high of $99.41.

Albany International (NYSE:AINGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. The firm had revenue of $323.60 million during the quarter, compared to the consensus estimate of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Analysts forecast that Albany International Corp. will post 3.9 earnings per share for the current year.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.17%. Albany International’s dividend payout ratio is presently 29.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIN. Bank of America reiterated an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. TheStreet upgraded Albany International from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Truist Financial upped their price target on Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus target price of $110.50.

Get Our Latest Stock Report on Albany International

Albany International Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Albany International (NYSE:AIN)

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