Albany International Corp. (NYSE:AIN) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Albany International Corp. (NYSE:AIN) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,790 shares of the textile maker’s stock after selling 308 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Albany International were worth $303,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its holdings in shares of Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock worth $386,000 after purchasing an additional 155 shares during the period. Central Pacific Bank Trust Division raised its stake in Albany International by 16.1% during 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 during the period. Inspire Investing LLC lifted its holdings in Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after acquiring an additional 334 shares during the last quarter. HighTower Advisors LLC boosted its stake in Albany International by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock valued at $1,372,000 after acquiring an additional 342 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Albany International by 11.2% during the fourth quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker’s stock valued at $321,000 after purchasing an additional 365 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Albany International Trading Down 1.7 %

Shares of NYSE:AIN opened at $72.15 on Friday. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $95.47. 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 firm has a market cap of $2.23 billion, a P/E ratio of 22.55 and a beta of 1.37. The company has a 50 day moving average of $77.70 and a 200-day moving average of $79.30.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. As a group, analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AIN shares. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Truist Financial upped their target price 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. Bank of America cut their price target on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday. Finally, Robert W. Baird decreased their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

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.