Albany International Corp. (NYSE:AIN) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,966 shares of the textile maker's stock after selling 21,250 shares during the period. Invesco Ltd. owned approximately 0.35% of Albany International worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Investment Consultants LLC grew its stake in Albany International by 3.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock valued at $386,000 after purchasing an additional 155 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings 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 buying an additional 320 shares in the last quarter. Inspire Investing LLC raised its holdings in Albany International by 7.2% in the 4th quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock worth $400,000 after purchasing an additional 334 shares during the period. HighTower Advisors LLC raised its stake in shares of Albany International by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker's stock worth $1,372,000 after buying an additional 342 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Albany International by 11.2% during the fourth quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker's stock valued at $321,000 after purchasing an additional 365 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AIN. Robert W. Baird lowered 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. Truist Financial decreased their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Bank of America dropped their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded Albany International from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Albany International presently has an average rating of "Moderate Buy" and a consensus target price of $80.40.

Albany International Stock Up 0.5 %

NYSE:AIN traded up $0.34 during midday trading on Friday, reaching $65.81. The company had a trading volume of 137,013 shares, compared to its average volume of 204,349. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock's fifty day simple moving average is $70.27 and its 200-day simple moving average is $76.24. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.57 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 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 company had revenue of $286.91 million during the quarter, compared to analysts' expectations of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. On average, sell-side analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio 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.