Connor Clark & Lunn Investment Management Ltd. Sells 25,233 Shares of Albany International Corp. (NYSE:AIN)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Albany International Corp. (NYSE:AIN) by 79.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,666 shares of the textile maker’s stock after selling 25,233 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Albany International were worth $533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Investment Consultants LLC lifted its stake in shares of 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. KBC Group NV increased 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 valued at $94,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division raised its position in 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 acquiring an additional 320 shares during the period. Inspire Investing LLC boosted its stake in shares of Albany International by 7.2% during the 4th quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock worth $400,000 after acquiring an additional 334 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of 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 acquiring an additional 342 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Truist Financial lifted their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird decreased their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Trading Down 3.8 %

Shares of NYSE:AIN opened at $70.70 on Friday. The company has a market capitalization of $2.18 billion, a PE ratio of 22.09 and a beta of 1.37. Albany International Corp. has a 12-month low of $67.39 and a 12-month high of $96.49. 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 business’s fifty day simple moving average is $78.32 and its 200-day simple moving average is $79.64.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. As a group, equities research analysts predict that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders 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 yield of 1.53%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio 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.