Alliancebernstein L.P. Purchases 1,788 Shares of Albany International Corp. (NYSE:AIN)

Alliancebernstein L.P. increased its position in Albany International Corp. (NYSE:AIN) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,891 shares of the textile maker’s stock after buying an additional 1,788 shares during the quarter. Alliancebernstein L.P.’s holdings in Albany International were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Investment Consultants LLC increased its stake in Albany International by 3.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock worth $386,000 after purchasing an additional 155 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 16.1% in 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. Inspire Investing LLC increased its stake in shares of Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after buying an additional 334 shares during the period. HighTower Advisors LLC raised its holdings in Albany International by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock valued at $1,372,000 after buying an additional 342 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Albany International by 11.2% during the 4th quarter. Blue Trust Inc. now owns 3,610 shares of the textile maker’s stock valued at $321,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial boosted their price target on Albany International from $85.00 to $88.00 and gave the company 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. JPMorgan Chase & Co. reduced their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Robert W. Baird decreased their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Albany International Stock Performance

Albany International stock opened at $65.15 on Wednesday. Albany International Corp. has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 20.36 and a beta of 1.29. The stock’s 50 day simple moving average is $72.97 and its two-hundred day simple moving average is $77.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share 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 return on equity of 12.20% and a net margin of 7.92%. As a group, analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were given a dividend of $0.27 per share. The ex-dividend date was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. Albany International’s dividend payout ratio (DPR) is currently 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.