Sei Investments Co. Grows Holdings in Albany International Corp. (NYSE:AIN)

Sei Investments Co. raised its position in Albany International Corp. (NYSE:AIN) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 729,377 shares of the textile maker’s stock after buying an additional 47,936 shares during the period. Sei Investments Co.’s holdings in Albany International were worth $58,328,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Intech Investment Management LLC grew its stake in Albany International by 72.4% during the 3rd quarter. Intech Investment Management LLC now owns 9,114 shares of the textile maker’s stock valued at $810,000 after purchasing an additional 3,827 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Albany International by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,975 shares of the textile maker’s stock worth $35,360,000 after buying an additional 15,120 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Albany International in the third quarter worth $981,000. Quantbot Technologies LP raised its holdings in Albany International by 25.8% in the third quarter. Quantbot Technologies LP now owns 6,491 shares of the textile maker’s stock valued at $577,000 after acquiring an additional 1,333 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Albany International during the 3rd quarter valued at $241,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Stock Down 3.8 %

NYSE:AIN opened at $70.70 on Monday. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $78.32 and a 200-day moving average of $79.57. The firm has a market capitalization of $2.18 billion, a PE ratio of 22.09 and a beta of 1.37. Albany International Corp. has a 52 week low of $67.39 and a 52 week high of $96.49.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Analysts predict that Albany International Corp. will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.53%. Albany International’s dividend payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AIN shares. TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Truist Financial lifted their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird lowered their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, StockNews.com cut Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Albany International presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Company 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.