Albany International Corp. (NYSE:AIN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Albany International Corp. (NYSE:AIN) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,375 shares of the textile maker’s stock after selling 6,000 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Albany International worth $3,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP raised its position in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the period. KBC Group NV increased its position in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division increased its position in Albany International by 16.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 320 shares during the period. Bridges Investment Management Inc. acquired a new stake in Albany International in the 3rd quarter valued at approximately $206,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Albany International in the 4th quarter valued at approximately $226,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIN has been the topic of several analyst reports. Truist Financial raised their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Bank of America lowered their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.75.

Albany International Stock Down 3.1 %

Shares of AIN stock opened at $79.86 on Friday. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $98.73. The stock has a market cap of $2.50 billion, a PE ratio of 24.96 and a beta of 1.34. The business’s fifty day moving average is $80.64 and its 200-day moving average is $81.85. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. Albany International’s dividend payout ratio (DPR) is presently 33.75%.

About Albany International

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.