Blue Trust Inc. Sells 1,184 Shares of Albany International Corp. (NYSE:AIN)

Blue Trust Inc. decreased its position in shares of Albany International Corp. (NYSE:AIN) by 36.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,061 shares of the textile maker’s stock after selling 1,184 shares during the period. Blue Trust Inc.’s holdings in Albany International were worth $165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC raised its stake in shares of Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after acquiring an additional 155 shares in the last quarter. KBC Group NV grew its holdings in shares of 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 grew its holdings in shares of 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 valued at $184,000 after buying an additional 320 shares during the last quarter. Inspire Investing LLC boosted its holdings in Albany International by 7.2% in the fourth quarter. Inspire Investing LLC now owns 5,004 shares of the textile maker’s stock valued at $400,000 after purchasing an additional 334 shares during the last quarter. Finally, Quarry LP boosted its holdings in Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Down 0.1 %

Shares of NYSE:AIN opened at $82.39 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 25.75 and a beta of 1.34. The firm’s 50-day simple moving average is $80.68 and its 200-day simple moving average is $81.88. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $98.73.

Albany International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is an increase from Albany International’s previous quarterly dividend of $0.26. Albany International’s payout ratio is currently 33.75%.

Analyst Ratings Changes

A number of research analysts have weighed in on AIN shares. Bank of America decreased their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price objective 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 upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Truist Financial lifted their price target 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. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.