Albany International Corp. (NYSE:AIN) Shares Bought by Earnest Partners LLC

Earnest Partners LLC increased its position in Albany International Corp. (NYSE:AIN - Free Report) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,641,108 shares of the textile maker's stock after purchasing an additional 99,149 shares during the period. Albany International accounts for about 0.9% of Earnest Partners LLC's holdings, making the stock its 22nd biggest holding. Earnest Partners LLC owned 8.44% of Albany International worth $211,209,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIN. Susquehanna Fundamental Investments LLC acquired a new position in shares of Albany International in the 4th quarter valued at $2,562,000. Voya Investment Management LLC raised its holdings in shares of Albany International by 552.8% in the fourth quarter. Voya Investment Management LLC now owns 260,394 shares of the textile maker's stock valued at $20,824,000 after buying an additional 220,504 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Albany International by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,695 shares of the textile maker's stock worth $1,655,000 after buying an additional 2,017 shares during the period. Susquehanna International Group LLP boosted its stake in shares of Albany International by 377.8% during the fourth quarter. Susquehanna International Group LLP now owns 24,013 shares of the textile maker's stock worth $1,920,000 after buying an additional 18,987 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Albany International by 1.2% during the fourth quarter. Stifel Financial Corp now owns 32,668 shares of the textile maker's stock worth $2,612,000 after buying an additional 381 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AIN. Bank of America decreased 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, March 25th. StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Truist Financial reduced their target price on shares of Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Robert W. Baird lowered 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $80.40.

Albany International Price Performance

Shares of NYSE AIN opened at $65.81 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International Corp. has a one year low of $57.71 and a one year high of $95.47. The firm has a market capitalization of $2.03 billion, a P/E ratio of 20.57 and a beta of 1.29. The company's fifty day moving average is $70.27 and its two-hundred day moving average is $76.24.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $286.91 million for the quarter, compared to analysts' expectations of $299.52 million. Analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, March 21st. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.