Massachusetts Financial Services Co. MA Takes $62.18 Million Position in Albany International Corp. (NYSE:AIN)

Massachusetts Financial Services Co. MA bought a new position in shares of Albany International Corp. (NYSE:AIN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 777,548 shares of the textile maker’s stock, valued at approximately $62,181,000. Massachusetts Financial Services Co. MA owned approximately 2.48% of Albany International as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AIN. Quarry LP increased its position in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after acquiring an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 503 shares during the period. Vestcor Inc acquired a new position in shares of Albany International during the fourth quarter worth about $70,000. Meeder Asset Management Inc. purchased a new stake in shares of Albany International in the fourth quarter worth about $88,000. Finally, KBC Group NV grew its position in Albany International by 41.3% in the fourth quarter. KBC Group NV now owns 1,495 shares of the textile maker’s stock valued at $120,000 after acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Trading Down 5.5 %

NYSE AIN opened at $61.58 on Friday. The firm has a market capitalization of $1.90 billion, a PE ratio of 19.24 and a beta of 1.29. Albany International Corp. has a one year low of $60.21 and a one year high of $95.47. The company has a 50-day simple moving average of $76.07 and a 200-day simple moving average of $78.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate 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 net margin of 7.92% and a return on equity of 12.20%. On average, equities analysts forecast that Albany International Corp. will post 3.23 earnings per share 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 1.75%. Albany International’s dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIN. Bank of America lowered their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. Robert W. Baird dropped their price objective 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 increased their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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.