Albany International Corp. (NYSE:AIN) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. lifted its stake in Albany International Corp. (NYSE:AIN) by 3,380.5% in the fourth quarter, HoldingsChannel reports. The fund owned 849,379 shares of the textile maker’s stock after purchasing an additional 824,975 shares during the quarter. American Century Companies Inc.’s holdings in Albany International were worth $67,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its position 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 period. Smartleaf Asset Management LLC boosted 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 valued at $53,000 after buying an additional 503 shares in the last quarter. Vestcor Inc bought a new stake in Albany International in the fourth quarter worth about $70,000. KBC Group NV lifted its holdings in Albany International by 41.3% in the 4th 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 stake in shares of Albany International by 16.1% in the 4th 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 during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on AIN. JPMorgan Chase & Co. cut their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Robert W. Baird decreased their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Bank of America decreased their price target on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday. Truist Financial boosted their price objective on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Albany International Trading Up 0.3 %

NYSE:AIN opened at $73.07 on Wednesday. The stock has a market cap of $2.26 billion, a PE ratio of 22.83 and a beta of 1.37. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $96.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock’s 50-day moving average is $78.02 and its two-hundred day moving average is $79.39.

Albany International (NYSE:AIN) last released its quarterly earnings data 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 company had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. As a group, equities research analysts forecast that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be paid 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 1.48%. Albany International’s dividend payout ratio (DPR) is currently 38.71%.

Albany International 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.