Victory Capital Management Inc. Sells 123,292 Shares of Albany International Corp. (NYSE:AIN)

Victory Capital Management Inc. cut its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 724,537 shares of the textile maker's stock after selling 123,292 shares during the period. Victory Capital Management Inc. owned approximately 2.31% of Albany International worth $57,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIN. Integrated Investment Consultants LLC increased its holdings in Albany International by 3.3% in the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock worth $386,000 after purchasing an additional 155 shares in the last quarter. KBC Group NV increased its stake in shares of 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 acquiring an additional 237 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 16.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker's stock valued at $184,000 after acquiring an additional 320 shares during the period. Inspire Investing LLC boosted its stake in Albany International by 7.2% during the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock worth $400,000 after acquiring an additional 334 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Albany International by 11.2% in the fourth quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker's stock worth $321,000 after purchasing an additional 365 shares during the period. 97.37% of the stock is owned by institutional investors and hedge funds.

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Albany International Stock Up 2.3 %

Shares of AIN stock traded up $1.66 during trading hours on Tuesday, reaching $74.61. The company had a trading volume of 309,728 shares, compared to its average volume of 174,466. The business has a fifty day simple moving average of $79.56 and a 200-day simple moving average of $80.74. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $96.49. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 23.32 and a beta of 1.37. 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 issued 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). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. On average, research analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 21st. Albany International's payout ratio is 38.71%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective 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. StockNews.com lowered Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Bank of America decreased their price objective on Albany International from $90.00 to $80.00 and set an "underperform" rating for the company in a report on Friday, November 15th. Truist Financial increased their target price on Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Albany International currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Albany International Company 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.