HighTower Advisors LLC Increases Position in Albany International Corp. (NYSE:AIN)

HighTower Advisors LLC raised its position in shares of Albany International Corp. (NYSE:AIN) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 17,157 shares of the textile maker’s stock after purchasing an additional 342 shares during the period. HighTower Advisors LLC’s holdings in Albany International were worth $1,372,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AIN. Quarry LP lifted its position in 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 buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 503 shares in the last quarter. KBC Group NV lifted its holdings in shares of Albany International by 41.3% in 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 during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 320 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Albany International during the 4th quarter valued at $226,000. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AIN shares. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial increased their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America lowered their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, Robert W. Baird cut their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.00.

Albany International Trading Up 0.3 %

AIN opened at $73.07 on Wednesday. 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 current ratio of 3.68 and a quick ratio of 2.94. The business has a 50 day simple moving average of $78.02 and a two-hundred day simple moving average of $79.39. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.83 and a beta of 1.37.

Albany International (NYSE:AIN) last announced 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). The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. Albany International’s dividend payout ratio is 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.