Albany International Corp. (NYSE:AIN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Albany International Corp. (NYSE:AIN - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,768 shares of the textile maker's stock after purchasing an additional 51,150 shares during the quarter. JPMorgan Chase & Co. owned 0.42% of Albany International worth $10,537,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock valued at $108,544,000 after buying an additional 36,944 shares during the period. Advantage Alpha Capital Partners LP boosted its holdings in shares of Albany International by 18.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker's stock valued at $2,252,000 after purchasing an additional 4,307 shares during the period. Principal Financial Group Inc. grew its stake in Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock worth $52,071,000 after purchasing an additional 36,274 shares in the last quarter. Vanguard Group Inc. increased its holdings in Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker's stock worth $279,403,000 after purchasing an additional 12,687 shares during the period. Finally, Geode Capital Management LLC raised its position in Albany International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock valued at $63,609,000 after purchasing an additional 8,356 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Stock Down 0.8 %

Shares of Albany International stock traded down $0.53 during trading on Friday, reaching $63.46. The company's stock had a trading volume of 220,027 shares, compared to its average volume of 202,098. The company has a 50-day simple moving average of $72.31 and a two-hundred day simple moving average of $76.85. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 19.83 and a beta of 1.29. 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 posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. As a group, equities analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. Albany International's dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

AIN has been the topic of a number of recent research reports. Truist Financial dropped their price target on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday. 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 research note on Friday, February 28th. TD Cowen raised shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their target price 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. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

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.