Connor Clark & Lunn Investment Management Ltd. Trims Stake in Albany International Corp. (NYSE:AIN)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Albany International Corp. (NYSE:AIN - Free Report) by 79.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,666 shares of the textile maker's stock after selling 25,233 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Albany International were worth $533,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp raised its stake in Albany International by 3.1% in the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock worth $108,544,000 after buying an additional 36,944 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Albany International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock worth $63,609,000 after acquiring an additional 8,356 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock valued at $52,071,000 after purchasing an additional 36,274 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Albany International by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,036 shares of the textile maker's stock valued at $34,070,000 after purchasing an additional 28,061 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Albany International by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock worth $24,381,000 after purchasing an additional 9,091 shares in the last quarter. Institutional investors own 97.37% of the company's stock.

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Albany International Stock Performance

Albany International stock traded up $0.33 during midday trading on Wednesday, reaching $73.41. 175,963 shares of the company traded hands, compared to its average volume of 184,928. 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 Corp. has a 12 month low of $67.39 and a 12 month high of $96.49. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 22.94 and a beta of 1.37. The business has a 50 day moving average of $78.02 and a two-hundred day moving average of $79.39.

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). The firm 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, research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, March 21st. Albany International's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AIN shares. Truist Financial upped their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a report on Thursday, December 19th. Bank of America lowered their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research report on Tuesday. Robert W. Baird cut their price target 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. Finally, StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

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.