New Age Alpha Advisors LLC Acquires Shares of 53,773 Albany International Corp. (NYSE:AIN)

New Age Alpha Advisors LLC bought a new stake in shares of Albany International Corp. (NYSE:AIN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 53,773 shares of the textile maker's stock, valued at approximately $4,300,000. New Age Alpha Advisors LLC owned about 0.17% of Albany International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIN. State Street Corp grew its position in shares of 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 acquiring an additional 36,944 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 9,931 shares during the period. Principal Financial Group Inc. increased its position 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 buying an additional 36,274 shares in the last quarter. Advantage Alpha Capital Partners LP raised its stake 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 worth $2,252,000 after buying an additional 4,307 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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 buying an additional 8,356 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Truist Financial lifted their target price on shares of Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Bank of America lowered their price objective 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. Finally, StockNews.com cut Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.00.

Albany International Price Performance

Shares of Albany International stock traded up $0.93 during trading on Wednesday, reaching $71.13. 28,401 shares of the stock traded hands, compared to its average volume of 222,125. 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 company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.23 and a beta of 1.37. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $95.47. The business has a fifty day simple moving average of $76.97 and a two-hundred day simple moving average of $78.89.

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

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.52%. Albany International's dividend payout ratio is currently 38.71%.

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.