Schroder Investment Management Group trimmed its stake in Albany International Corp. (NYSE:AIN - Free Report) by 26.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209,417 shares of the textile maker's stock after selling 73,804 shares during the quarter. Schroder Investment Management Group owned 0.67% of Albany International worth $16,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC acquired a new stake in shares of Albany International during the 4th quarter valued at $4,300,000. Norges Bank purchased a new position in Albany International in the fourth quarter valued at about $39,044,000. JPMorgan Chase & Co. grew its stake in Albany International by 63.4% in the fourth quarter. JPMorgan Chase & Co. now owns 131,768 shares of the textile maker's stock valued at $10,537,000 after purchasing an additional 51,150 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Albany International by 23.6% during the 4th quarter. EntryPoint Capital LLC now owns 6,461 shares of the textile maker's stock worth $517,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP raised its stake in shares of Albany International by 18.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker's stock worth $2,252,000 after purchasing an additional 4,307 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.
Albany International Stock Performance
NYSE AIN traded down $0.52 during trading on Tuesday, hitting $59.79. The company's stock had a trading volume of 263,985 shares, compared to its average volume of 200,168. Albany International Corp. has a 52 week low of $57.71 and a 52 week high of $95.47. The firm has a market cap of $1.85 billion, a P/E ratio of 18.69 and a beta of 1.29. The firm has a 50 day moving average price of $74.84 and a 200 day moving average price of $77.94. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.
Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Equities research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.
Albany International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, March 21st. Albany International's payout ratio is presently 38.71%.
Analyst Ratings Changes
AIN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. StockNews.com downgraded shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial upped their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. TD Cowen upgraded Albany International to a "strong-buy" rating in a report on Thursday, December 19th. Finally, Bank of America decreased their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.
Get Our Latest Stock Report on Albany International
Albany International Profile
(
Free Report)
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.
Further Reading
Before you consider Albany International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Albany International wasn't on the list.
While Albany International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
