Massachusetts Financial Services Co. MA Invests $62.18 Million in Albany International Corp. (NYSE:AIN)

Massachusetts Financial Services Co. MA acquired a new stake in Albany International Corp. (NYSE:AIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 777,548 shares of the textile maker's stock, valued at approximately $62,181,000. Massachusetts Financial Services Co. MA owned about 2.48% of Albany International as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of Albany International by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 5,839 shares of the textile maker's stock worth $467,000 after buying an additional 988 shares during the last quarter. Alliancebernstein L.P. boosted its position in Albany International by 5.0% during the fourth quarter. Alliancebernstein L.P. now owns 37,891 shares of the textile maker's stock valued at $3,030,000 after purchasing an additional 1,788 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Albany International during the 4th quarter worth approximately $88,000. New Age Alpha Advisors LLC bought a new stake in shares of Albany International during the 4th quarter worth approximately $4,300,000. Finally, Norges Bank acquired a new stake in shares of Albany International in the 4th quarter valued at approximately $39,044,000. Institutional investors own 97.37% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on AIN shares. JPMorgan Chase & Co. cut their price target on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. StockNews.com downgraded Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Truist Financial raised their price objective on Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. TD Cowen raised Albany International to a "strong-buy" rating in a report on Thursday, December 19th. Finally, Bank of America cut 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. One investment 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. Based on data from MarketBeat, Albany International presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

Albany International Stock Performance

NYSE:AIN traded down $3.15 during mid-day trading on Thursday, hitting $63.25. 54,813 shares of the stock were exchanged, compared to its average volume of 200,665. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The firm's 50-day simple moving average is $74.27 and its 200 day simple moving average is $77.73. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 19.78 and a beta of 1.29.

Albany International (NYSE:AIN - Get Free Report) last announced 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). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. As a group, equities analysts anticipate that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's dividend payout ratio (DPR) is currently 38.71%.

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.