New Age Alpha Advisors LLC Makes New Investment in Albany International Corp. (NYSE:AIN)

New Age Alpha Advisors LLC purchased a new position in shares of Albany International Corp. (NYSE:AIN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 53,773 shares of the textile maker’s stock, valued at approximately $4,300,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its stake 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 purchasing an additional 402 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Albany International during the 4th quarter valued at approximately $70,000. KBC Group NV lifted its holdings in Albany International by 41.3% in the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock valued at $120,000 after acquiring an additional 437 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew 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. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Down 3.6 %

Shares of AIN opened at $69.39 on Friday. The company’s 50-day simple moving average is $77.46 and its 200-day simple moving average is $79.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $95.47. The stock has a market capitalization of $2.14 billion, a PE ratio of 21.68 and a beta of 1.37.

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 analysts’ consensus estimates of $0.63 by ($0.05). The business had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

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 paid a dividend of $0.27 per share. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.56%. Albany International’s payout ratio is 38.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AIN shares. Bank of America reduced their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Tuesday. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased 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 report on Wednesday, January 15th. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Robert W. Baird decreased their price objective 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. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.00.

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.