Albany International Corp. (NYSE:AIN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in shares of Albany International Corp. (NYSE:AIN) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 724,537 shares of the textile maker’s stock after selling 123,292 shares during the quarter. Victory Capital Management Inc. owned about 2.31% of Albany International worth $57,941,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AIN. Quarry LP lifted its position in shares of Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the last quarter. KBC Group NV lifted its position in shares of Albany International by 28.9% during the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock worth $94,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Albany International by 16.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after buying an additional 320 shares during the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Albany International during the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Ratings Changes

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

Albany International Stock Performance

NYSE:AIN opened at $73.34 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International Corp. has a fifty-two week low of $67.39 and a fifty-two week high of $97.60. The stock has a market cap of $2.30 billion, a PE ratio of 22.92 and a beta of 1.37. The firm’s fifty day simple moving average is $79.70 and its 200-day simple moving average is $80.97.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share 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 company had revenue of $286.91 million for the quarter, compared to analyst estimates of $299.52 million. Analysts expect that Albany International Corp. will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

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.