State of New Jersey Common Pension Fund D Purchases 3,472 Shares of Albany International Corp. (NYSE:AIN)

State of New Jersey Common Pension Fund D grew its position in shares of Albany International Corp. (NYSE:AIN) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,131 shares of the textile maker’s stock after buying an additional 3,472 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Albany International worth $2,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP lifted its holdings in Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares during the period. KBC Group NV raised its stake in shares of Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after purchasing an additional 237 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of 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 worth $184,000 after buying an additional 320 shares during the last quarter. Bridges Investment Management Inc. bought a new position in Albany International during the third quarter valued at about $206,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Albany International during the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AIN shares. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective 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. Truist Financial raised their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Bank of America dropped their price target 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. Finally, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to 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 %

AIN opened at $79.86 on Monday. Albany International Corp. has a 12 month low of $67.39 and a 12 month high of $98.73. The company has a market cap of $2.50 billion, a PE ratio of 24.96 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. The company has a 50 day moving average of $80.64 and a 200 day moving average of $81.78.

Albany International Dividend Announcement

The business 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 $0.27 dividend. 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%.

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.