Bridge City Capital LLC Raises Stock Position in Albany International Corp. (NYSE:AIN)

Bridge City Capital LLC boosted its holdings in shares of Albany International Corp. (NYSE:AIN) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,625 shares of the textile maker’s stock after buying an additional 17,409 shares during the quarter. Albany International makes up approximately 1.8% of Bridge City Capital LLC’s investment portfolio, making the stock its 14th biggest holding. Bridge City Capital LLC owned about 0.26% of Albany International worth $6,608,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quarry LP grew its holdings in Albany International by 515.4% in 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 last quarter. Smartleaf Asset Management LLC raised its position in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after acquiring an additional 503 shares during the period. Vestcor Inc acquired a new position in shares of Albany International in the fourth quarter worth about $70,000. KBC Group NV raised its position in shares of Albany International by 28.9% in the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after acquiring an additional 237 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in shares of Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 320 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Trading Down 3.8 %

NYSE AIN opened at $70.70 on Friday. The company’s fifty day simple moving average is $78.32 and its 200-day simple moving average is $79.64. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $96.49. 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 stock has a market cap of $2.18 billion, a P/E ratio of 22.09 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 for the quarter, missing the consensus estimate of $0.63 by ($0.05). The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Equities research analysts predict that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be issued a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.53%. Albany International’s dividend payout ratio is 38.71%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AIN shares. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird dropped their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped 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. Finally, StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.