Kennedy Capital Management LLC boosted its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,029 shares of the textile maker's stock after acquiring an additional 5,620 shares during the quarter. Kennedy Capital Management LLC owned 0.32% of Albany International worth $8,079,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIN. Smartleaf Asset Management LLC grew its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Albany International during the 4th quarter valued at $70,000. Meeder Asset Management Inc. purchased a new position in shares of Albany International in the 4th quarter worth about $88,000. KBC Group NV raised its stake in shares of Albany International by 41.3% in the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker's stock valued at $120,000 after acquiring an additional 437 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of 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. Hedge funds and other institutional investors own 97.37% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AIN. Robert W. Baird reduced their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. TD Cowen raised Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Bank of America reduced their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.00.
Check Out Our Latest Stock Report on Albany International
Albany International Stock Performance
NYSE AIN traded down $1.48 during trading on Wednesday, reaching $63.60. 66,767 shares of the company's stock were exchanged, compared to its average volume of 201,184. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The business has a 50 day moving average price of $72.97 and a 200-day moving average price of $77.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market capitalization of $1.97 billion, a P/E ratio of 19.88 and a beta of 1.29.
Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Sell-side analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.
Albany International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio is 38.71%.
About Albany International
(
Free Report)
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.
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