Linden Thomas Advisory Services LLC Acquires Shares of 2,767 Albany International Corp. (NYSE:AIN)

Linden Thomas Advisory Services LLC bought a new position in Albany International Corp. (NYSE:AIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,767 shares of the textile maker’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Albany International in the third quarter valued at about $29,000. Adirondack Trust Co. acquired a new stake in shares of Albany International in the 3rd quarter valued at approximately $86,000. Strs Ohio boosted its stake in shares of Albany International by 22.2% in the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock valued at $108,000 after buying an additional 200 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Albany International during the fourth quarter worth $231,000. Finally, Advisor Partners II LLC purchased a new position in Albany International in the third quarter worth $261,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AIN. Truist Financial upped their price target on shares of Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Bank of America restated an “underperform” rating and set a $95.00 target price (down from $105.00) on shares of Albany International in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.50.

Albany International Trading Up 0.3 %

Shares of AIN stock opened at $87.68 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.27 and a beta of 1.25. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. Albany International Corp. has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The business has a fifty day simple moving average of $91.56 and a 200-day simple moving average of $89.69.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.38. The firm had revenue of $323.60 million during the quarter, compared to the consensus estimate of $298.17 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. On average, analysts forecast that Albany International Corp. will post 3.93 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

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.