Albany International Corp. (NYSE:AIN) Shares Acquired by Susquehanna International Group LLP

Susquehanna International Group LLP lifted its position in Albany International Corp. (NYSE:AIN) by 377.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,013 shares of the textile maker’s stock after purchasing an additional 18,987 shares during the period. Susquehanna International Group LLP’s holdings in Albany International were worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Albany International by 3,380.5% in the fourth quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock worth $67,925,000 after acquiring an additional 824,975 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Albany International in the 4th quarter worth about $62,181,000. Norges Bank purchased a new position in Albany International during the fourth quarter worth approximately $39,044,000. Raymond James Financial Inc. acquired a new stake in Albany International in the fourth quarter valued at approximately $19,349,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Albany International in the fourth quarter valued at approximately $4,300,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AIN shares. Truist Financial decreased their target price on Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, 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 research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Albany International currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Stock Performance

Albany International stock opened at $65.62 on Friday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 20.51 and a beta of 1.37. 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 firm has a 50 day simple moving average of $67.62 and a 200-day simple moving average of $75.64. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $288.77 million during the quarter, compared to analysts’ expectations of $300.74 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, analysts expect that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. Albany International’s payout ratio is currently 43.55%.

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.