Citigroup Inc. Acquires 3,665 Shares of Albany International Corp. (NYSE:AIN)

Citigroup Inc. grew its holdings in Albany International Corp. (NYSE:AIN – Get Rating) by 18.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,023 shares of the textile maker’s stock after buying an additional 3,665 shares during the period. Citigroup Inc.’s holdings in Albany International were worth $2,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quadrant Capital Group LLC boosted its stake in shares of Albany International by 110.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 809 shares of the textile maker’s stock worth $64,000 after purchasing an additional 425 shares during the period. US Asset Management LLC bought a new stake in Albany International during the 4th quarter valued at about $85,000. Captrust Financial Advisors lifted its holdings in Albany International by 89.0% during the 1st quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock valued at $117,000 after buying an additional 650 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in Albany International by 1,344.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,777 shares of the textile maker’s stock valued at $140,000 after buying an additional 1,654 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Albany International during the 3rd quarter valued at about $149,000. 99.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AIN shares. Truist Financial upgraded shares of Albany International from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $105.00 in a report on Thursday, April 27th. They noted that the move was a valuation call. StockNews.com started coverage on shares of Albany International in a research note on Thursday, May 18th. They set a “buy” rating for the company.

Albany International Trading Down 2.4 %

NYSE AIN opened at $86.00 on Thursday. The company has a quick ratio of 3.98, a current ratio of 4.82 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2.68 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 3.12 and a beta of 1.31. The company has a 50 day moving average price of $89.66 and a 200 day moving average price of $98.02. Albany International Corp. has a 52 week low of $75.24 and a 52 week high of $115.39.

Albany International (NYSE:AIN – Get Rating) last released its earnings results on Wednesday, April 26th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $269.10 million for the quarter, compared to the consensus estimate of $255.14 million. Albany International had a net margin of 8.96% and a return on equity of 14.14%. Albany International’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, sell-side analysts forecast that Albany International Corp. will post 3.66 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Wednesday, June 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, June 6th. Albany International’s dividend payout ratio is presently 33.00%.

Insiders Place Their Bets

In other news, SVP Robert Alan Hansen sold 1,900 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $101.93, for a total value of $193,667.00. Following the sale, the senior vice president now directly owns 11,504 shares of the company’s stock, valued at approximately $1,172,602.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by insiders.

About Albany International

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Albany International Corp. engages in textiles and materials processing. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment supplies fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries.