Albany International Corp. (NYSE:AIN) Stock Holdings Reduced by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in Albany International Corp. (NYSE:AIN - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,095 shares of the textile maker's stock after selling 70,385 shares during the period. William Blair Investment Management LLC owned approximately 2.07% of Albany International worth $51,748,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Quarry LP boosted its stake in Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker's stock valued at $43,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 valued at $53,000 after buying an additional 503 shares during the period. Vestcor Inc bought a new position in Albany International during the fourth quarter valued at about $70,000. KBC Group NV grew its holdings in 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 acquiring an additional 237 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings 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 acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

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Analysts Set New Price Targets

AIN has been the subject of several research reports. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Robert W. Baird decreased 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. JPMorgan Chase & Co. cut their price objective on Albany International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Truist Financial lifted their target price on Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, TD Cowen raised Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, Albany International currently has an average rating of "Moderate Buy" and an average price target of $83.00.

Albany International Trading Down 3.4 %

NYSE AIN traded down $2.50 on Friday, hitting $70.70. 846,903 shares of the stock were exchanged, compared to its average volume of 213,561. The company's 50-day moving average price is $78.48 and its two-hundred day moving average price is $79.87. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.09 and a beta of 1.37. Albany International Corp. has a 52-week low of $67.39 and a 52-week high of $96.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $286.91 million during the quarter, compared to analysts' expectations of $299.52 million. Research analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.53%. Albany International's dividend payout ratio is presently 38.71%.

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.