Albany International Corp. (NYSE:AIN) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Albany International Corp. (NYSE:AIN) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 729,377 shares of the textile maker’s stock after acquiring an additional 47,936 shares during the quarter. Sei Investments Co. owned approximately 2.33% of Albany International worth $58,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Albany International by 3,380.5% in the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock valued at $67,925,000 after purchasing an additional 824,975 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Albany International in the fourth quarter valued at approximately $19,349,000. Barclays PLC lifted its stake in shares of Albany International by 305.5% during the third quarter. Barclays PLC now owns 53,227 shares of the textile maker’s stock valued at $4,728,000 after buying an additional 40,101 shares during the period. State Street Corp boosted its position in Albany International by 3.1% during the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after acquiring an additional 36,944 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after acquiring an additional 36,274 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Albany International Stock Down 3.8 %

Shares of NYSE:AIN opened at $70.70 on Monday. The stock has a 50-day simple moving average of $78.32 and a 200-day simple moving average of $79.57. The stock has a market capitalization of $2.18 billion, a P/E ratio of 22.09 and a beta of 1.37. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $96.49. 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 (NYSE:AIN) last released its quarterly earnings data 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 business had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Equities analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AIN shares. Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird decreased their target price 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. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Albany International 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.