Envestnet Asset Management Inc. Has $21.83 Million Position in Albany International Corp. (NYSE:AIN)

Envestnet Asset Management Inc. reduced its position in Albany International Corp. (NYSE:AIN - Free Report) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,019 shares of the textile maker's stock after selling 38,707 shares during the period. Envestnet Asset Management Inc. owned approximately 0.87% of Albany International worth $21,833,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its position in Albany International by 3,380.5% during the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after buying an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Albany International during the 4th quarter valued at $62,181,000. Norges Bank acquired a new position in shares of Albany International during the 4th quarter valued at $39,044,000. Raymond James Financial Inc. purchased a new stake in Albany International during the 4th quarter worth $19,349,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Albany International in the 4th quarter valued at $4,300,000. Hedge funds and other institutional investors own 97.37% of the company's stock.

Albany International Price Performance

Shares of AIN traded down $0.53 during mid-day trading on Friday, hitting $63.46. The company's stock had a trading volume of 220,027 shares, compared to its average volume of 202,155. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The firm has a 50-day moving average price of $71.96 and a 200 day moving average price of $76.68. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.83 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

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

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AIN. TD Cowen upgraded Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Truist Financial dropped their price objective on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America decreased their target price on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price target 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. Finally, Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International has an average rating of "Moderate Buy" and an average target price of $80.40.

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.