Intech Investment Management LLC Buys 4,329 Shares of Albany International Corp. (NYSE:AIN)

Intech Investment Management LLC increased its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,443 shares of the textile maker's stock after buying an additional 4,329 shares during the period. Intech Investment Management LLC's holdings in Albany International were worth $1,075,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AIN. Quarry LP grew its position in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after buying an additional 402 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after buying an additional 503 shares during the period. Vestcor Inc bought a new stake in shares of Albany International in the 4th quarter valued at $70,000. KBC Group NV grew its stake in Albany International by 28.9% in the third 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 during the period. Finally, Central Pacific Bank Trust Division grew its stake in Albany International by 16.1% in the fourth 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. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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Albany International Stock Up 0.5 %

Shares of NYSE AIN traded up $0.33 during trading hours on Wednesday, hitting $73.41. The company had a trading volume of 177,112 shares, compared to its average volume of 184,928. The stock has a market capitalization of $2.27 billion, a P/E ratio of 22.94 and a beta of 1.37. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $96.49. The firm's 50 day moving average is $78.02 and its 200-day moving average is $79.39. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 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 the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. On average, analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on AIN. JPMorgan Chase & Co. decreased their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Bank of America reduced 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. Robert W. Baird decreased their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Truist Financial raised their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a report on Thursday, December 19th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $82.00.

About Albany International

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.