Wells Fargo & Company MN Lowers Position in Albany International Corp. (NYSE:AIN)

Wells Fargo & Company MN cut its position in Albany International Corp. (NYSE:AIN - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 329,901 shares of the textile maker's stock after selling 59,814 shares during the period. Wells Fargo & Company MN owned approximately 1.05% of Albany International worth $26,382,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after purchasing an additional 503 shares during the last quarter. Vestcor Inc purchased a new position in Albany International in the fourth quarter worth about $70,000. Meeder Asset Management Inc. bought a new position in shares of Albany International in the 4th quarter worth approximately $88,000. KBC Group NV increased its holdings in Albany International by 41.3% during the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker's stock valued at $120,000 after buying an additional 437 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Albany International by 16.1% during 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. Hedge funds and other institutional investors own 97.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com lowered Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on shares of 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 dropped their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Truist Financial dropped their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. Finally, TD Cowen raised Albany International to a "strong-buy" rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.40.

Albany International Trading Up 0.2 %

Shares of NYSE:AIN traded up $0.14 during trading on Thursday, reaching $64.13. The company's stock had a trading volume of 45,232 shares, compared to its average volume of 201,312. Albany International Corp. has a 12 month low of $57.71 and a 12 month high of $95.47. 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 firm's 50 day simple moving average is $72.65 and its two-hundred day simple moving average is $77.03. The stock has a market capitalization of $1.98 billion, a PE ratio of 20.13 and a beta of 1.29.

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

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, March 21st. Albany International's dividend payout ratio is currently 38.71%.

Albany International 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.