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

Proficio Capital Partners LLC purchased a new position in shares of Albany International Corp. (NYSE:AIN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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 SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after buying an additional 503 shares during the last quarter. KBC Group NV boosted its position in shares of Albany International by 28.9% in the third 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 increased its position in 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 worth $184,000 after purchasing an additional 320 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Albany International during the fourth quarter worth approximately $226,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have commented on AIN. JPMorgan Chase & Co. dropped their price target on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Robert W. Baird reduced their price target on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, TD Cowen upgraded Albany International to a "strong-buy" rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Albany International Stock Up 2.7 %

NYSE:AIN traded up $1.91 on Monday, reaching $72.76. The stock had a trading volume of 665,415 shares, compared to its average volume of 183,875. The company has a 50-day moving average of $78.32 and a 200 day moving average of $79.57. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.25 billion, a P/E ratio of 22.74 and a beta of 1.37. 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 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 business had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. On average, research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

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 issued a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.48%. Albany International's dividend payout ratio is presently 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.