Bryce Point Capital LLC acquired a new stake in Albany International Corp. (NYSE:AIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,937 shares of the textile maker's stock, valued at approximately $1,674,000. Bryce Point Capital LLC owned 0.07% of Albany International at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its stake in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock valued at $43,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after acquiring an additional 503 shares in the last quarter. Vestcor Inc purchased a new position in shares of Albany International during the 4th quarter worth approximately $70,000. Meeder Asset Management Inc. purchased a new position in shares of Albany International in the 4th quarter valued at approximately $88,000. Finally, KBC Group NV grew its stake in Albany International by 41.3% in the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker's stock worth $120,000 after purchasing an additional 437 shares during the period. 97.37% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AIN has been the topic of a number of recent research reports. TD Cowen raised shares of Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, Bank of America cut 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 report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.
Read Our Latest Report on AIN
Albany International Price Performance
Shares of AIN stock traded down $2.65 on Monday, hitting $58.92. 134,789 shares of the stock traded hands, compared to its average volume of 225,106. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 18.41 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. The firm has a 50 day simple moving average of $76.07 and a two-hundred day simple moving average of $78.46. Albany International Corp. has a 52 week low of $57.71 and a 52 week high of $95.47.
Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million during 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%. As a group, equities research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.
Albany International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be given 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 dividend yield of 1.83%. Albany International's dividend payout ratio is currently 38.71%.
Albany International Company Profile
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Free Report)
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.
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