Kayne Anderson Rudnick Investment Management LLC Sells 24,758 Shares of Albany International Corp. (NYSE:AIN)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 948,262 shares of the textile maker's stock after selling 24,758 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 3.03% of Albany International worth $75,833,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Albany International by 3,380.5% during the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker's stock valued at $67,925,000 after buying an additional 824,975 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Albany International in the fourth quarter worth approximately $62,181,000. Norges Bank acquired a new position in Albany International in the fourth quarter worth approximately $39,044,000. Raymond James Financial Inc. bought a new position in Albany International during the fourth quarter valued at approximately $19,349,000. Finally, New Age Alpha Advisors LLC bought a new stake in Albany International in the fourth quarter worth approximately $4,300,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Performance

Shares of NYSE AIN traded up $2.54 during mid-day trading on Thursday, hitting $65.46. The company had a trading volume of 244,321 shares, compared to its average volume of 204,194. Albany International Corp. has a 12 month low of $57.71 and a 12 month high of $95.47. The firm has a market cap of $2.02 billion, a P/E ratio of 20.46 and a beta of 1.29. The business's 50-day simple moving average is $70.91 and its 200-day simple moving average is $76.32. 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 (NYSE:AIN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. As a group, analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, March 21st. Albany International's payout ratio is 38.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Robert W. Baird reduced their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. StockNews.com upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, Bank of America lowered their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

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.