Rhumbline Advisers Sells 769 Shares of Albany International Corp. (NYSE:AIN)

Rhumbline Advisers lessened its position in shares of Albany International Corp. (NYSE:AIN) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,989 shares of the textile maker’s stock after selling 769 shares during the period. Rhumbline Advisers owned approximately 0.31% of Albany International worth $7,836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in 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 period. Victory Capital Management Inc. increased its position in Albany International by 24.0% during the 3rd quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock worth $75,330,000 after buying an additional 163,934 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Albany International by 1.2% during the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after buying an additional 8,356 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock valued at $52,071,000 after acquiring an additional 36,274 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Albany International by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock valued at $35,360,000 after acquiring an additional 15,120 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of Albany International stock opened at $79.91 on Wednesday. The company has a 50 day moving average of $80.60 and a 200-day moving average of $81.65. The company has a market cap of $2.50 billion, a PE ratio of 24.97 and a beta of 1.34. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $98.73.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio is presently 33.75%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AIN. Truist Financial lifted their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America cut their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus target price of $80.75.

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.