US Bancorp DE Cuts Position in Albany International Corp. (NYSE:AIN)

US Bancorp DE lessened its stake in Albany International Corp. (NYSE:AIN) by 32.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,945 shares of the textile maker’s stock after selling 1,909 shares during the quarter. US Bancorp DE’s holdings in Albany International were worth $316,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AIN. Quarry LP increased its holdings in shares of Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares in the last quarter. KBC Group NV increased its holdings in Albany International by 28.9% during 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 in the last quarter. Central Pacific Bank Trust Division increased its holdings in Albany International by 16.1% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Albany International during the 4th quarter valued at about $226,000. Finally, FORA Capital LLC purchased a new position in Albany International during the 3rd quarter valued at about $241,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of NYSE AIN opened at $72.35 on Friday. The company has a market cap of $2.24 billion, a PE ratio of 22.61 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 debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a 50-day simple moving average of $79.17 and a 200-day simple moving average of $80.51.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $299.52 million. On average, equities analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.49%. Albany International’s dividend payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

AIN has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Robert W. Baird dropped their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Bank of America lowered their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. 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 report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.00.

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.