Natixis Advisors LLC Decreases Stake in Albany International Corp. (NYSE:AIN)

Natixis Advisors LLC trimmed its position in shares of Albany International Corp. (NYSE:AIN - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,725 shares of the textile maker's stock after selling 7,972 shares during the period. Natixis Advisors LLC owned about 0.74% of Albany International worth $18,531,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AIN. State Street Corp raised its position in Albany International by 3.1% during the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock valued at $108,544,000 after purchasing an additional 36,944 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Albany International by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker's stock valued at $7,163,000 after buying an additional 9,931 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock valued at $52,071,000 after acquiring an additional 36,274 shares in the last quarter. Geode Capital Management LLC lifted its stake in Albany International by 1.2% in the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock worth $63,609,000 after acquiring an additional 8,356 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Albany International by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker's stock valued at $24,381,000 after acquiring an additional 9,091 shares in the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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Albany International Stock Down 3.8 %

Shares of AIN stock traded down $2.77 during trading hours on Friday, hitting $70.70. 846,903 shares of the company's stock traded hands, compared to its average volume of 181,558. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock's fifty day simple moving average is $78.32 and its two-hundred day simple moving average is $79.70. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $96.49. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 22.09 and a beta of 1.37.

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 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 company had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. On average, analysts expect that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, March 21st. Albany International's dividend payout ratio (DPR) is 38.71%.

Analyst Ratings Changes

AIN has been the subject of several research analyst reports. StockNews.com cut shares of 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 shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Robert W. Baird reduced their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their target price 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. Finally, TD Cowen upgraded Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International has an average rating of "Moderate Buy" and an average target price of $83.00.

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.