Pembroke Management LTD Has $5.51 Million Holdings in Albany International Corp. (NYSE:AIN)

Pembroke Management LTD lessened its position in Albany International Corp. (NYSE:AIN - Free Report) by 75.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,881 shares of the textile maker's stock after selling 206,842 shares during the period. Pembroke Management LTD owned approximately 0.22% of Albany International worth $5,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after acquiring an additional 402 shares during the last quarter. KBC Group NV grew its holdings in shares of Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock worth $94,000 after acquiring an additional 237 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker's stock worth $184,000 after acquiring an additional 320 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Albany International in the 3rd quarter worth $206,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Albany International in the 4th quarter worth $226,000. Institutional investors own 97.37% of the company's stock.

Analyst Ratings Changes

AIN has been the topic of a number of research analyst reports. TD Cowen upgraded Albany International to a "strong-buy" rating in a report on Thursday, December 19th. StockNews.com upgraded Albany International from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Bank of America lowered their price target on Albany International from $90.00 to $80.00 and set an "underperform" rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial lifted their price target on Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Albany International presently has a consensus rating of "Moderate Buy" and an average price target of $80.75.

Albany International Stock Down 3.1 %

AIN traded down $2.58 during trading on Friday, reaching $79.86. 140,304 shares of the stock traded hands, compared to its average volume of 152,144. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 24.96 and a beta of 1.34. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $98.73. 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's 50-day simple moving average is $80.64 and its two-hundred day simple moving average is $81.85.

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 dividend on an annualized basis and a yield of 1.35%. Albany International's payout ratio is 33.75%.

About Albany International

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.