Albany International Corp. (NYSE:AIN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,875 shares of the textile maker's stock after buying an additional 9,091 shares during the period. Bank of New York Mellon Corp owned about 0.97% of Albany International worth $24,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AIN. Quarry LP lifted its position in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker's stock valued at $43,000 after acquiring an additional 402 shares in the last quarter. KBC Group NV lifted its holdings in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock valued at $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in 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. Bridges Investment Management Inc. purchased a new stake in shares of Albany International during the third quarter worth $206,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Albany International during the fourth quarter worth $226,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Albany International Stock Down 0.7 %

Shares of AIN stock traded down $0.50 on Thursday, reaching $72.35. 201,633 shares of the stock were exchanged, compared to its average volume of 175,652. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 22.61 and a beta of 1.37. The business's 50 day moving average price is $79.31 and its 200 day moving average price is $80.57. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a twelve month low of $67.39 and a twelve month high of $96.49.

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Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $299.52 million. As a group, sell-side analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.27 per share. 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 1.49%. Albany International's payout ratio is currently 38.71%.

Analysts Set New Price Targets

AIN has been the topic of a number of recent research reports. Bank of America lowered their price objective on Albany International from $90.00 to $80.00 and set an "underperform" rating on the stock in a research note on Friday, November 15th. TD Cowen upgraded Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird dropped 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 note on Friday, February 28th. Finally, Truist Financial increased their price objective on Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. One investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.00.

About Albany International

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.