Albany International Corp. (NYSE:AIN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Albany International Corp. (NYSE:AIN) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 724,537 shares of the textile maker’s stock after selling 123,292 shares during the period. Victory Capital Management Inc.’s holdings in Albany International were worth $57,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP grew its stake in 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 acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 503 shares during the last quarter. KBC Group NV lifted its holdings in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in 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 valued at $184,000 after purchasing an additional 320 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new position in Albany International in the 3rd quarter valued at about $206,000. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Trading Up 1.3 %

Shares of AIN stock opened at $73.34 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 22.92 and a beta of 1.37. Albany International Corp. has a 1-year low of $67.39 and a 1-year high of $97.60. 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 firm’s 50-day simple moving average is $79.70 and its 200-day simple moving average is $80.97.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share 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 for the quarter, compared to analysts’ expectations of $299.52 million. As a group, equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.47%. Albany International’s payout ratio is 38.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Bank of America reduced their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Truist Financial upped their target price on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued 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 has an average rating of “Moderate Buy” and an average price target of $83.00.

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.