Proficio Capital Partners LLC Purchases Shares of 18,873 Albany International Corp. (NYSE:AIN)

Proficio Capital Partners LLC bought a new stake in Albany International Corp. (NYSE:AIN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,873 shares of the textile maker's stock, valued at approximately $1,509,000. Proficio Capital Partners LLC owned 0.06% of Albany International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Integrated Investment Consultants LLC grew its holdings in shares of Albany International by 3.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker's stock worth $386,000 after purchasing an additional 155 shares during the last quarter. KBC Group NV lifted its position in shares of Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker's stock worth $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker's stock valued at $184,000 after purchasing an additional 320 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker's stock valued at $400,000 after purchasing an additional 334 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Albany International by 11.2% in the 4th quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker's stock worth $321,000 after purchasing an additional 365 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

AIN has been the subject of several research reports. Truist Financial lifted their target price on 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 lowered their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut 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 report on Wednesday, January 15th. TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Albany International Trading Down 0.6 %

Shares of AIN stock traded down $0.46 on Monday, reaching $72.86. The company had a trading volume of 302,055 shares, compared to its average volume of 174,058. The stock has a market cap of $2.28 billion, a PE ratio of 22.77 and a beta of 1.37. The company has a 50-day moving average of $79.70 and a 200-day moving average of $80.85. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $96.49.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. On average, equities analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, March 21st. Albany International's dividend payout ratio is 38.71%.

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.