Moody Aldrich Partners LLC Sells 406 Shares of Albany International Corp. (NYSE:AIN)

Moody Aldrich Partners LLC lowered its holdings in shares of Albany International Corp. (NYSE:AIN) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 39,663 shares of the textile maker’s stock after selling 406 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Albany International were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Whittier Trust Co. boosted its position in shares of Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. Hilltop National Bank grew its stake in shares of Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the period. SG Americas Securities LLC acquired a new position in shares of Albany International in the 1st quarter worth approximately $102,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Albany International during the 1st quarter worth approximately $128,000. Institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AIN. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Cowen dropped their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Truist Financial cut their price target on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Hold” and an average price target of $89.50.

Albany International Price Performance

NYSE:AIN traded down $1.16 during mid-day trading on Thursday, reaching $72.15. 17,699 shares of the company were exchanged, compared to its average volume of 152,071. Albany International Corp. has a 12 month low of $69.19 and a 12 month high of $99.41. The stock has a market cap of $2.25 billion, a PE ratio of 20.59, a PEG ratio of 2.39 and a beta of 1.25. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $83.93 and a 200 day moving average of $86.11.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a net margin of 8.76% and a return on equity of 13.13%. Albany International’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. On average, research analysts anticipate that Albany International Corp. will post 3.11 EPS for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.44%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

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.