Albany International Corp. (NYSE:AIN) Shares Purchased by Bridge City Capital LLC

Bridge City Capital LLC increased its holdings in shares of Albany International Corp. (NYSE:AIN – Get Rating) by 3.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,666 shares of the textile maker’s stock after acquiring an additional 763 shares during the period. Bridge City Capital LLC owned approximately 0.07% of Albany International worth $1,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in Albany International in the 2nd quarter valued at about $25,000. CWM LLC lifted its stake in Albany International by 272.2% in the 2nd quarter. CWM LLC now owns 402 shares of the textile maker’s stock worth $32,000 after purchasing an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Albany International by 486.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 920 shares of the textile maker’s stock worth $72,000 after purchasing an additional 763 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Albany International in the 2nd quarter worth approximately $77,000. Finally, Eagle Bay Advisors LLC lifted its stake in Albany International by 121.3% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,193 shares of the textile maker’s stock worth $94,000 after purchasing an additional 654 shares in the last quarter. 99.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Robert W. Baird lifted their price target on shares of Albany International from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Wednesday, October 26th. Finally, Truist Financial lifted their price target on shares of Albany International from $80.00 to $85.00 in a research report on Monday, January 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.50.

Albany International Trading Down 0.7 %

Albany International stock traded down $0.73 during trading on Wednesday, hitting $111.42. The company had a trading volume of 16,486 shares, compared to its average volume of 91,137. Albany International Corp. has a 1-year low of $75.24 and a 1-year high of $112.46. The company has a current ratio of 4.27, a quick ratio of 3.56 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $102.81 and its 200-day simple moving average is $93.91. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28.

Albany International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Stockholders of record on Tuesday, December 27th were given a dividend of $0.25 per share. This is a boost from Albany International’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, December 23rd. Albany International’s payout ratio is 29.94%.

About Albany International

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.