8,075 Shares in Albany International Corp. (NYSE:AIN) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in shares of Albany International Corp. (NYSE:AIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,075 shares of the textile maker's stock, valued at approximately $646,000.

A number of other institutional investors have also recently added to or reduced their stakes in AIN. Raymond James Financial Inc. bought a new stake in shares of Albany International in the 4th quarter valued at $19,349,000. Barclays PLC boosted its stake in shares of Albany International by 305.5% in the 3rd quarter. Barclays PLC now owns 53,227 shares of the textile maker's stock valued at $4,728,000 after purchasing an additional 40,101 shares during the last quarter. State Street Corp boosted its stake in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock valued at $108,544,000 after purchasing an additional 36,944 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Albany International by 6.6% during the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock worth $52,071,000 after acquiring an additional 36,274 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Albany International by 16.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 252,233 shares of the textile maker's stock worth $20,171,000 after acquiring an additional 34,890 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Albany International Stock Down 1.7 %

AIN traded down $1.27 during trading on Thursday, hitting $73.44. 325,699 shares of the company's stock were exchanged, compared to its average volume of 178,444. The business's 50 day moving average is $78.64 and its two-hundred day moving average is $79.91. The stock has a market cap of $2.27 billion, a P/E ratio of 22.95 and a beta of 1.37. 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 Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $96.49.

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Albany International (NYSE:AIN - Get Free Report) last announced 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). The firm had revenue of $286.91 million during the quarter, compared to analysts' expectations of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. As a group, equities analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders 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 dividend yield of 1.47%. Albany International's dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

AIN has been the topic of several research analyst reports. 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 note on Wednesday, January 15th. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. TD Cowen raised shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Truist Financial increased their target price on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, Robert W. Baird lowered their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Albany International presently has an average rating of "Moderate Buy" and an average price target of $83.00.

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.