Meeder Asset Management Inc. Buys New Stake in Albany International Corp. (NYSE:AIN)

Meeder Asset Management Inc. purchased a new position in Albany International Corp. (NYSE:AIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,105 shares of the textile maker’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of 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 purchasing an additional 402 shares during the period. Smartleaf Asset Management LLC raised its stake in Albany International by 306.7% during 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 in the last quarter. Vestcor Inc acquired a new position in Albany International during the fourth quarter worth $70,000. KBC Group NV lifted its holdings in Albany International by 41.3% during the 4th quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock valued at $120,000 after purchasing an additional 437 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in shares of 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 valued at $184,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

AIN has been the topic of a number of research analyst reports. Robert W. Baird decreased their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Bank of America lowered their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. Truist Financial upped their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.00.

Albany International Stock Performance

Albany International stock opened at $70.35 on Wednesday. Albany International Corp. has a 1 year low of $67.39 and a 1 year high of $95.47. The company’s 50-day moving average is $76.97 and its two-hundred day moving average is $78.89. 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 company has a market cap of $2.17 billion, a PE ratio of 21.98 and a beta of 1.37.

Albany International (NYSE:AIN) last announced its quarterly earnings data 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 during 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 analysts anticipate that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently disclosed 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 is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.54%. Albany International’s dividend payout ratio is presently 38.71%.

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.