Albany International Corp. (NYSE:AIN) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Albany International Corp. (NYSE:AIN - Free Report) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,340 shares of the textile maker's stock after acquiring an additional 60,812 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.52% of Albany International worth $14,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Albany International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker's stock worth $330,041,000 after buying an additional 11,052 shares in the last quarter. Earnest Partners LLC grew its position in shares of Albany International by 2.1% during the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker's stock worth $218,961,000 after buying an additional 53,743 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker's stock worth $92,192,000 after buying an additional 52,909 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Albany International by 3.5% during the second quarter. William Blair Investment Management LLC now owns 726,287 shares of the textile maker's stock worth $61,335,000 after buying an additional 24,430 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Albany International by 2.0% during the second quarter. Sei Investments Co. now owns 708,373 shares of the textile maker's stock worth $59,822,000 after buying an additional 13,581 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Performance

Shares of Albany International stock traded down $0.37 during trading hours on Friday, hitting $71.11. 138,564 shares of the company were exchanged, compared to its average volume of 152,937. The business has a 50-day moving average of $83.22 and a 200-day moving average of $85.84. Albany International Corp. has a 1 year low of $69.19 and a 1 year high of $99.41. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The business had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. As a group, analysts expect that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International's dividend payout ratio (DPR) is 29.21%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AIN shares. StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Truist Financial decreased their target price on Albany International from $101.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen decreased their target price on Albany International from $95.00 to $81.00 and set a "buy" rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of "Hold" and a consensus target price of $89.50.

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.