Geode Capital Management LLC Sells 3,920 Shares of Albany International Corp. (NYSE:AIN)

Geode Capital Management LLC trimmed its stake in Albany International Corp. (NYSE:AIN - Free Report) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711,859 shares of the textile maker's stock after selling 3,920 shares during the period. Geode Capital Management LLC owned about 2.27% of Albany International worth $56,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of Albany International by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 5,839 shares of the textile maker's stock valued at $467,000 after purchasing an additional 988 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Albany International by 5.0% in the 4th quarter. Alliancebernstein L.P. now owns 37,891 shares of the textile maker's stock valued at $3,030,000 after buying an additional 1,788 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Albany International during the 4th quarter worth about $88,000. New Age Alpha Advisors LLC acquired a new stake in shares of Albany International during the 4th quarter valued at about $4,300,000. Finally, Norges Bank bought a new stake in Albany International in the fourth quarter valued at about $39,044,000. Institutional investors own 97.37% of the company's stock.

Analysts Set New Price Targets

AIN has been the subject of a number of analyst reports. TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Robert W. Baird decreased 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. StockNews.com upgraded Albany International from a "hold" rating to a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial lowered their target price on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

Albany International Price Performance

AIN traded down $0.53 during 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. The firm's 50 day moving average price is $71.96 and its two-hundred day moving average price is $76.68. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.83 and a beta of 1.29. Albany International Corp. has a 12 month low of $57.71 and a 12 month high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last released 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 business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Sell-side analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

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