Albany International Corp. (NYSE:AIN) Position Trimmed by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of Albany International Corp. (NYSE:AIN) by 50.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,291 shares of the textile maker’s stock after selling 3,305 shares during the period. Truist Financial Corp’s holdings in Albany International were worth $263,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State of New Jersey Common Pension Fund D raised its stake in Albany International by 16.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,131 shares of the textile maker’s stock worth $2,010,000 after acquiring an additional 3,472 shares during the period. Legato Capital Management LLC raised its position in shares of Albany International by 16.4% during the 4th quarter. Legato Capital Management LLC now owns 16,221 shares of the textile maker’s stock worth $1,297,000 after purchasing an additional 2,284 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Albany International during the 4th quarter worth approximately $1,675,000. 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 purchasing an additional 437 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Albany International by 11.2% during the 4th 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 period. 97.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIN has been the topic of several analyst reports. Bank of America dropped their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial boosted their target price on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One research 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’s stock. Based on data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Price Performance

Shares of NYSE AIN opened at $73.60 on Thursday. The firm’s 50-day simple moving average is $80.00 and its 200 day simple moving average is $81.14. The stock has a market cap of $2.30 billion, a P/E ratio of 23.00 and a beta of 1.34. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $97.60.

Albany International (NYSE:AIN) last released its quarterly 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 company had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Equities analysts expect 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. Shareholders 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 dividend on an annualized basis and a yield of 1.47%. Albany International’s dividend payout ratio (DPR) is 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.