Bridge City Capital LLC Acquires 17,409 Shares of Albany International Corp. (NYSE:AIN)

Bridge City Capital LLC lifted its stake in shares of Albany International Corp. (NYSE:AIN) by 26.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 82,625 shares of the textile maker’s stock after buying an additional 17,409 shares during the period. Albany International makes up 1.8% of Bridge City Capital LLC’s investment portfolio, making the stock its 14th biggest position. Bridge City Capital LLC’s holdings in Albany International were worth $6,608,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AIN. State Street Corp raised its position in shares of Albany International by 3.1% during the third quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after acquiring an additional 36,944 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Albany International by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock valued at $7,163,000 after purchasing an additional 9,931 shares during the period. Principal Financial Group Inc. increased its stake in Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after acquiring an additional 36,274 shares during the last quarter. Geode Capital Management LLC increased its stake in Albany International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after acquiring an additional 8,356 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Albany International by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 304,875 shares of the textile maker’s stock worth $24,381,000 after purchasing an additional 9,091 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Down 3.8 %

AIN stock opened at $70.70 on Friday. Albany International Corp. has a one year low of $67.39 and a one year high of $96.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The firm’s 50 day moving average price is $78.32 and its 200-day moving average price is $79.64. The firm has a market cap of $2.18 billion, a PE ratio of 22.09 and a beta of 1.37.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. On average, equities research analysts anticipate 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 will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be given a dividend of $0.27 per share. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.53%. Albany International’s payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. TD Cowen upgraded Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Robert W. Baird reduced 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. Truist Financial upped their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

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.